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 report sent to investors on Tuesday.

RGC Resources Stock Performance

RGC Resources stock opened at $20.68 on Tuesday. The firm has a 50 day simple moving average of $20.89 and a 200-day simple moving average of $20.63. The stock has a market cap of $211.35 million, a price-to-earnings ratio of 16.54 and a beta of 0.16. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.07 and a quick ratio of 0.69. RGC Resources has a 1-year low of $15.36 and a 1-year high of $23.70.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Monday, August 5th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). RGC Resources had a return on equity of 11.93% and a net margin of 15.04%. The business had revenue of $14.46 million during the quarter, compared to analysts’ expectations of $14.00 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, analysts expect that RGC Resources will post 1.14 EPS for the current year.

RGC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.87%. The ex-dividend date is Friday, October 18th. RGC Resources’s dividend payout ratio (DPR) is presently 64.00%.

Institutional Investors Weigh In On RGC Resources

A number of institutional investors and hedge funds have recently made changes to their positions in RGCO. BNP Paribas Financial Markets increased its holdings in RGC Resources by 62.0% in the 1st quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock valued at $81,000 after purchasing an additional 1,535 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of RGC Resources by 5.6% in the 2nd 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. Price T Rowe Associates Inc. MD raised its holdings in shares of RGC Resources by 5.3% in 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 buying an additional 539 shares during the period. Fruth Investment Management lifted its stake in RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. purchased a new position in RGC Resources during the 2nd quarter valued at about $819,000. 35.77% of the stock is 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.