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 research report report published on Thursday morning.

RGC Resources Trading Down 1.8 %

Shares of RGCO stock opened at $20.70 on Thursday. RGC Resources has a 12-month low of $18.02 and a 12-month 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. The company has a 50 day moving average of $20.45 and a 200-day moving average of $20.76. The firm has a market cap of $212.38 million, a P/E ratio of 17.84 and a beta of 0.18.

RGC Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Friday, January 17th were given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, January 17th. This is a boost from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s dividend payout ratio is currently 71.55%.

Institutional Investors Weigh In On RGC Resources

Large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after purchasing an additional 7,879 shares during the period. Fruth Investment Management lifted its stake in shares of RGC Resources by 5.3% during the 4th quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock valued at $276,000 after buying an additional 700 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of RGC Resources by 267.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after buying an additional 10,697 shares in the last quarter. Cerity Partners LLC boosted its holdings in RGC Resources by 4.6% in the 3rd 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 during the period. Finally, State Street Corp grew its stake in RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after buying an additional 592 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.