RGC Resources (NASDAQ:RGCO) Lowered to Sell Rating by StockNews.com

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

RGC Resources Stock Performance

Shares of NASDAQ:RGCO opened at $22.22 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $227.09 million, a P/E ratio of 17.80 and a beta of 0.17. The business has a 50-day moving average price of $20.97 and a two-hundred day moving average price of $20.75. RGC Resources has a 1-year low of $15.68 and a 1-year high of $24.20.

RGC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, October 18th. RGC Resources’s dividend payout ratio (DPR) is presently 64.00%.

Hedge Funds Weigh In On RGC Resources

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of RGC Resources by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after purchasing an additional 4,202 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of RGC Resources by 6.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock worth $7,280,000 after buying an additional 22,400 shares during the last quarter. Gabelli Funds LLC lifted its position in RGC Resources by 16.4% during the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after acquiring an additional 31,651 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in RGC Resources by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock valued at $3,674,000 after purchasing an additional 36,685 shares during the period. Finally, Cutter & CO Brokerage Inc. boosted its position in shares of RGC Resources by 18.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after acquiring an additional 21,489 shares during the period. 35.77% of the stock is owned by institutional investors.

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.