RGC Resources (NASDAQ:RGCO) Upgraded at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a research note published on Friday morning.

RGC Resources Stock Performance

NASDAQ RGCO opened at $20.80 on Friday. The stock has a market cap of $212.56 million, a P/E ratio of 17.93 and a beta of 0.17. 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 twelve month low of $17.51 and a twelve month high of $24.20. The company’s 50-day simple moving average is $21.04 and its 200 day simple moving average is $20.76.

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 given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s dividend payout ratio (DPR) is 71.55%.

Institutional Trading of RGC Resources

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in shares of RGC Resources by 5.6% during the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after acquiring an additional 497 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $217,000 after purchasing an additional 539 shares during the last quarter. Barclays PLC boosted its position in RGC Resources by 257.3% in the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after buying an additional 7,879 shares in the last quarter. Fruth Investment Management grew its stake in RGC Resources by 10.1% during the third quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after buying an additional 1,198 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of RGC Resources by 4.6% during the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after buying an additional 1,161 shares in the last quarter. 35.77% of the stock is currently owned by institutional investors.

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.