RGC Resources (NASDAQ:RGCO) Upgraded at StockNews.com

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

RGC Resources Trading Down 0.5 %

Shares of RGCO stock opened at $20.80 on Friday. The firm has a market capitalization of $212.58 million, a PE ratio of 17.93 and a beta of 0.17. RGC Resources has a 1-year low of $17.51 and a 1-year high of $24.20. The business’s fifty day moving average price is $21.04 and its 200 day moving average price is $20.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.07 and a quick ratio of 0.69.

RGC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be given a dividend of $0.2075 per share. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. This represents a $0.83 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, January 17th. RGC Resources’s payout ratio is currently 68.97%.

Hedge Funds Weigh In On RGC Resources

A number of hedge funds have recently made changes to their positions in RGCO. Barclays PLC grew its holdings in shares of RGC Resources by 257.3% during the 3rd 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. Geode Capital Management LLC raised its holdings in 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 in the last quarter. State Street Corp grew its holdings in RGC Resources by 0.6% during the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after acquiring an additional 592 shares in the last quarter. Cerity Partners LLC increased its position in shares of 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 purchasing an additional 1,161 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. raised its stake in shares of RGC Resources by 18.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after purchasing an additional 21,489 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Company Profile

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.