RGC Resources (NASDAQ:RGCO) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings raised RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, RGC Resources presently has a consensus rating of “Buy”.

RGC Resources Price Performance

RGCO opened at $22.15 on Friday. The stock has a market cap of $230.58 million, a price-to-earnings ratio of 16.53 and a beta of 0.52. RGC Resources has a 1 year low of $19.68 and a 1 year high of $24.50. The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average price of $22.26 and a 200 day moving average price of $21.91.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The firm had revenue of $45.46 million during the quarter, compared to analysts’ expectations of $38.20 million. RGC Resources had a return on equity of 11.87% and a net margin of 13.01%.

RGC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 17th were issued a $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, April 17th. RGC Resources’s payout ratio is presently 64.93%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Teton Advisors LLC acquired a new position in shares of RGC Resources in the 3rd quarter worth approximately $2,154,000. Cary Street Partners Financial LLC boosted its holdings in shares of RGC Resources by 1.8% in the 3rd quarter. Cary Street Partners Financial LLC now owns 31,817 shares of the energy company’s stock worth $714,000 after acquiring an additional 557 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of RGC Resources by 647.1% in the 3rd quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock worth $28,000 after acquiring an additional 1,100 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of RGC Resources by 7.4% in the 3rd quarter. Prospera Financial Services Inc now owns 170,014 shares of the energy company’s stock worth $3,815,000 after acquiring an additional 11,674 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of RGC Resources in the 3rd quarter worth approximately $283,000. 35.77% of the stock is owned by institutional investors and hedge funds.

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.