RGC Resources (NASDAQ:RGCO) Rating Increased 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 published on Wednesday.

RGC Resources Trading Up 1.5 %

RGCO stock opened at $20.55 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. RGC Resources has a 1-year low of $17.90 and a 1-year high of $24.20. The business has a 50 day simple moving average of $20.87 and a two-hundred day simple moving average of $20.77. The company has a market capitalization of $210.84 million, a price-to-earnings ratio of 17.60 and a beta of 0.17.

RGC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 4.04%. 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 68.97%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after buying an additional 497 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of RGC Resources by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock worth $217,000 after acquiring an additional 539 shares in the last quarter. State Street Corp raised its holdings in shares of RGC Resources by 0.6% during the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after acquiring an additional 592 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of RGC Resources by 1.4% during the 2nd 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 during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of RGC Resources by 4.6% in 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 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.