RGC Resources (NASDAQ:RGCO) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a report released on Tuesday morning.

RGC Resources Price Performance

NASDAQ:RGCO opened at $21.30 on Tuesday. RGC Resources has a one year low of $18.29 and a one year high of $24.20. The company has a market cap of $219.33 million, a P/E ratio of 18.36 and a beta of 0.18. The firm’s fifty day moving average price is $20.50 and its two-hundred day moving average price is $20.69. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Monday, February 10th. The energy company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. RGC Resources had a net margin of 13.90% and a return on equity of 10.91%. Equities analysts expect that RGC Resources will post 1.23 earnings per share for the current year.

RGC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Friday, January 17th were given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.90%. 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 payout ratio is presently 70.94%.

Institutional Investors Weigh In On RGC Resources

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of RGC Resources by 4.1% in the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after acquiring an additional 7,701 shares during the period. State Street Corp boosted its position in shares of RGC Resources by 0.6% in the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after acquiring an additional 592 shares during the period. Barclays PLC boosted its position in shares of RGC Resources by 257.3% in the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after acquiring an additional 7,879 shares during the period. JPMorgan Chase & Co. boosted its position in shares of RGC Resources by 267.6% in the third quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after acquiring an additional 10,697 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of RGC Resources by 4.6% in the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after acquiring an additional 1,161 shares during the period. 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.