RGC Resources (NASDAQ:RGCO) Stock Rating Upgraded by StockNews.com

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

RGC Resources Trading Down 2.0 %

Shares of RGCO stock opened at $20.19 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25. RGC Resources has a fifty-two week low of $15.36 and a fifty-two week high of $23.70. The firm’s 50 day moving average price is $20.72 and its two-hundred day moving average price is $20.59. 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 posted its earnings results on Monday, August 5th. The energy company reported $0.02 earnings per share 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 for the quarter, compared to analyst estimates of $14.00 million. During the same quarter in the previous year, the firm posted $0.07 EPS. On average, analysts anticipate that RGC Resources will post 1.14 EPS for the current year.

RGC Resources Announces Dividend

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

Hedge Funds Weigh In On RGC Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in shares of RGC Resources by 62.0% during the first 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 during the period. Rhumbline Advisers increased its stake in RGC Resources by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after buying an additional 497 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in RGC Resources by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock worth $217,000 after buying an additional 539 shares in the last quarter. Burke & Herbert Bank & Trust Co. purchased a new position in RGC Resources in the 2nd quarter valued at about $819,000. Finally, Renaissance Technologies LLC grew its stake in shares of RGC Resources by 1.4% during the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock valued at $888,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors 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.