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 research note published on Friday.

RGC Resources Stock Down 0.5 %

NASDAQ RGCO opened at $20.80 on Friday. RGC Resources has a one year low of $17.51 and a one year high of $24.20. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.69 and a current ratio of 1.07. The business has a fifty day moving average price of $21.04 and a 200 day moving average price of $20.76. The company has a market cap of $212.58 million, a P/E ratio of 17.93 and a beta of 0.17.

RGC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.2075 per share. This is a boost 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%.

Institutional Trading of RGC Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its holdings in 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 lifted its stake in RGC Resources by 4.1% during the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after purchasing an additional 7,701 shares during the last quarter. State Street Corp increased its stake in 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 purchasing an additional 592 shares during the last quarter. Cerity Partners LLC raised its holdings in RGC Resources by 4.6% during the third 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 in the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its position in shares of RGC Resources by 18.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock worth $3,113,000 after buying an additional 21,489 shares during the last quarter. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

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.