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

StockNews.com cut shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

RGC Resources Stock Performance

NASDAQ:RGCO opened at $20.26 on Thursday. The company has a market cap of $207.93 million, a P/E ratio of 17.47 and a beta of 0.17. The firm’s 50 day moving average is $20.83 and its two-hundred day moving average is $20.77. RGC Resources has a fifty-two week low of $17.90 and a fifty-two week high of $24.20. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26.

RGC Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 17th will be given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 4.10%. 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 payout ratio is 71.55%.

Hedge Funds Weigh In On RGC Resources

A number of large investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after buying an additional 497 shares during the period. Barclays PLC raised its stake in shares of RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after acquiring an additional 7,879 shares during the period. Fruth Investment Management lifted its holdings in shares of RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock valued at $295,000 after acquiring an additional 1,198 shares in the last quarter. Cerity Partners LLC boosted its position in RGC Resources by 4.6% during the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after purchasing an additional 1,161 shares during the period. Finally, Renaissance Technologies LLC raised 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 valued at $888,000 after purchasing an additional 600 shares during the period. 35.77% of the stock is currently owned by hedge funds and other 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.