RGC Resources (NASDAQ:RGCO) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a report issued on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of RGC Resources in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

RGC Resources Price Performance

Shares of NASDAQ:RGCO opened at $21.69 on Friday. The firm has a market cap of $224.49 million, a PE ratio of 17.49 and a beta of 0.52. The firm’s fifty day moving average is $21.84 and its 200-day moving average is $21.77. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.59 and a current ratio of 1.03. RGC Resources has a 52 week low of $19.50 and a 52 week high of $23.82.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Thursday, February 5th. The energy company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The company had revenue of $30.26 million during the quarter, compared to analyst estimates of $28.21 million. RGC Resources had a net margin of 13.11% and a return on equity of 11.13%. Sell-side analysts predict that RGC Resources will post 1.23 earnings per share for the current year.

RGC Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 16th were given a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a yield of 4.0%. This is an increase from RGC Resources’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, January 16th. RGC Resources’s payout ratio is currently 70.16%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its position in shares of RGC Resources by 647.1% during the 3rd quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock valued at $28,000 after purchasing an additional 1,100 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after purchasing an additional 1,068 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in RGC Resources by 80.9% in the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after buying an additional 812 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of RGC Resources by 45.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock worth $57,000 after buying an additional 800 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new position in shares of RGC Resources during the 2nd quarter worth approximately $59,000. 35.77% of the stock is owned by institutional investors.

About RGC Resources

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.