RGC Resources (NASDAQ:RGCO) Downgraded to “Hold” Rating by Wall Street Zen

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

Separately, Weiss Ratings raised shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, RGC Resources currently has an average rating of “Buy”.

RGC Resources Trading Down 0.3%

Shares of NASDAQ RGCO opened at $21.87 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. RGC Resources has a one year low of $20.55 and a one year high of $27.99. The business has a 50-day moving average price of $23.46 and a two-hundred day moving average price of $22.59. The firm has a market capitalization of $227.67 million, a PE ratio of 16.32 and a beta of 0.51.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $17.11 million during the quarter, compared to analyst estimates of $18.19 million. RGC Resources had a net margin of 13.05% and a return on equity of 11.85%.

RGC Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 17th were issued a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, July 17th. RGC Resources’s dividend payout ratio (DPR) is 64.93%.

Institutional Trading of RGC Resources

Several large investors have recently made changes to their positions in RGCO. Geneos Wealth Management Inc. raised its stake in shares of RGC Resources by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after acquiring an additional 1,068 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in RGC Resources by 80.9% during the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after purchasing an additional 812 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in RGC Resources by 440.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after purchasing an additional 2,299 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of RGC Resources in the fourth quarter valued at approximately $103,000. Finally, Kestra Advisory Services LLC bought a new position in shares of RGC Resources in the fourth quarter valued at approximately $119,000. Institutional investors own 35.77% of the company’s stock.

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.