RGC Resources (NASDAQ:RGCO) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research report report published on Wednesday.

RGC Resources Price Performance

NASDAQ RGCO opened at $21.14 on Wednesday. The stock has a market capitalization of $216.90 million, a price-to-earnings ratio of 18.22 and a beta of 0.18. RGC Resources has a 1-year low of $17.90 and a 1-year high of $24.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. The business’s fifty day moving average price is $20.45 and its 200-day moving average price is $20.79.

RGC Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 17th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 3.93%. This is a boost from RGC Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, January 17th. RGC Resources’s dividend payout ratio (DPR) is presently 71.55%.

Hedge Funds Weigh In On RGC Resources

Several institutional investors have recently made changes to their positions in RGCO. Geode Capital Management LLC raised its position in RGC Resources by 4.1% in the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after acquiring an additional 7,701 shares during the period. State Street Corp raised its holdings in RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after purchasing an additional 592 shares during the period. Barclays PLC lifted its position in RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after purchasing an additional 7,879 shares in the last quarter. Cerity Partners LLC grew its holdings in RGC Resources by 4.6% during the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after purchasing an additional 1,161 shares during the period. Finally, Renaissance Technologies LLC increased its position in RGC Resources by 1.4% in the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after buying an additional 600 shares in the last quarter. Institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

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.