RGC Resources (NASDAQ:RGCO) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research report sent to investors on Saturday.

RGC Resources Stock Performance

NASDAQ RGCO opened at $21.68 on Friday. The firm has a market cap of $221.55 million, a price-to-earnings ratio of 17.78 and a beta of 0.17. The company has a 50-day simple moving average of $20.99 and a two-hundred day simple moving average of $20.76. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25. RGC Resources has a 12-month low of $15.68 and a 12-month high of $24.20.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.20 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.80 dividend on an annualized basis and a yield of 3.69%. RGC Resources’s dividend payout ratio (DPR) is currently 64.00%.

Institutional Inflows and Outflows

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