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 issued to investors on Wednesday morning.

RGC Resources Trading Up 1.5 %

RGC Resources stock opened at $20.55 on Wednesday. RGC Resources has a one year low of $17.90 and a one year high of $24.20. The business’s fifty day moving average is $20.87 and its 200 day moving average is $20.77. 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 has a market capitalization of $210.84 million, a PE ratio of 17.60 and a beta of 0.17.

RGC Resources Increases Dividend

The business also recently disclosed 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 represents a $0.83 annualized dividend and a dividend yield of 4.04%. 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 presently 68.97%.

Institutional Investors Weigh In On RGC Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGCO. Vanguard Group Inc. boosted its stake in shares of RGC Resources by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after buying an additional 4,202 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in RGC Resources by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock worth $217,000 after purchasing an additional 539 shares during the last quarter. Rhumbline Advisers grew its stake in shares of RGC Resources by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares during the period. Renaissance Technologies LLC increased its position in shares of RGC Resources by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock valued at $888,000 after purchasing an additional 600 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of RGC Resources by 16.4% in the 2nd 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. Hedge funds and other institutional investors own 35.77% of the company’s stock.

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.