RGC Resources (NASDAQ:RGCO) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a report issued on Tuesday morning.

RGC Resources Price Performance

Shares of NASDAQ RGCO opened at $20.19 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $20.72 and its 200 day moving average price is $20.59. RGC Resources has a 52 week low of $15.36 and a 52 week high of $23.70. The stock has a market cap of $206.34 million, a price-to-earnings ratio of 15.54 and a beta of 0.16.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Monday, August 5th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. The business had revenue of $14.46 million during the quarter, compared to analyst estimates of $14.00 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, research analysts forecast that RGC Resources will post 1.14 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.20 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.80 annualized dividend and a dividend yield of 3.96%. RGC Resources’s dividend payout ratio is currently 61.54%.

Institutional Trading of RGC Resources

A number of large investors have recently made changes to their positions in RGCO. BNP Paribas Financial Markets lifted its holdings in RGC Resources by 62.0% in the 1st quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock valued at $81,000 after purchasing an additional 1,535 shares in the last quarter. Russell Investments Group Ltd. boosted its position in RGC Resources by 25.3% during the first quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock worth $3,674,000 after acquiring an additional 36,685 shares during the last quarter. Vanguard Group Inc. grew its stake in RGC Resources by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after acquiring an additional 4,202 shares during the period. Gamco Investors INC. ET AL grew its stake in RGC Resources by 6.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock worth $7,280,000 after acquiring an additional 22,400 shares during the period. Finally, Teton Advisors Inc. raised its holdings in RGC Resources by 1.2% in the 1st quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company’s stock valued at $1,761,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.