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

StockNews.com lowered shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

RGC Resources Stock Performance

RGC Resources stock opened at $21.27 on Wednesday. The company has a market cap of $218.23 million, a price-to-earnings ratio of 18.34 and a beta of 0.18. RGC Resources has a 12 month low of $17.90 and a 12 month high of $24.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. The stock’s 50-day moving average is $20.47 and its 200-day moving average is $20.80.

RGC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 17th will be given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 3.90%. This is a boost from RGC Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, January 17th. RGC Resources’s payout ratio is 71.55%.

Hedge Funds Weigh In On RGC Resources

Several hedge funds and other institutional investors have recently made changes to their positions in RGCO. Barclays PLC increased its holdings in RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after purchasing an additional 7,879 shares in the last quarter. Fruth Investment Management grew its stake in shares of RGC Resources by 5.3% in the fourth quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock valued at $276,000 after buying an additional 700 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of RGC Resources by 267.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after buying an additional 10,697 shares during the period. Cerity Partners LLC lifted its position in RGC Resources by 4.6% during the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after acquiring an additional 1,161 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in RGC Resources by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after acquiring an additional 600 shares during the period. 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.