RGC Resources (NASDAQ:RGCO) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of RGC Resources (NASDAQ:RGCOGet Rating) in a report issued on Monday. The firm issued a hold rating on the energy company’s stock.

RGC Resources Stock Performance

Shares of RGCO opened at $24.16 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.69 and a debt-to-equity ratio of 1.23. The company’s fifty day moving average is $21.85 and its 200-day moving average is $20.85. The firm has a market cap of $203.43 million, a price-to-earnings ratio of -6.79 and a beta of -0.17. RGC Resources has a 12 month low of $18.01 and a 12 month high of $25.00.

RGC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 14th were given a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, October 13th.

Institutional Investors Weigh In On RGC Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGCO. Cerity Partners LLC bought a new position in RGC Resources during the 2nd quarter worth approximately $457,000. Millennium Management LLC boosted its position in shares of RGC Resources by 111.8% in the second quarter. Millennium Management LLC now owns 25,650 shares of the energy company’s stock valued at $489,000 after acquiring an additional 13,537 shares during the period. Russell Investments Group Ltd. boosted its position in shares of RGC Resources by 3.5% in the first quarter. Russell Investments Group Ltd. now owns 313,859 shares of the energy company’s stock valued at $6,708,000 after acquiring an additional 10,636 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of RGC Resources by 19.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 47,265 shares of the energy company’s stock valued at $995,000 after acquiring an additional 7,769 shares during the period. Finally, UBS Group AG lifted its position in RGC Resources by 6.6% during the third quarter. UBS Group AG now owns 105,448 shares of the energy company’s stock worth $2,220,000 after purchasing an additional 6,572 shares during the period.

RGC Resources Company Profile

(Get Rating)

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 1,157 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 6 metering stations.

Further Reading

Receive News & Ratings for RGC Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RGC Resources and related companies with MarketBeat.com's FREE daily email newsletter.