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

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

RGC Resources Trading Down 1.2 %

NASDAQ:RGCO opened at $21.27 on Wednesday. The company has a market capitalization of $218.23 million, a PE ratio of 18.34 and a beta of 0.18. RGC Resources has a 52-week low of $17.90 and a 52-week high of $24.20. The stock has a fifty day simple moving average of $20.47 and a 200-day simple moving average of $20.80. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26.

RGC Resources Increases Dividend

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

Institutional Trading of RGC Resources

A number of large investors have recently made changes to their positions in RGCO. Geode Capital Management LLC lifted its holdings in RGC Resources by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after purchasing an additional 7,701 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its stake in shares of RGC Resources by 18.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after buying an additional 21,489 shares during the period. State Street Corp boosted its position in RGC Resources by 0.6% during the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after acquiring an additional 592 shares during the last quarter. Renaissance Technologies LLC grew its stake 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. Finally, Cerity Partners LLC raised its holdings in RGC Resources by 4.6% in the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after acquiring an additional 1,161 shares during the last quarter. Institutional investors and hedge funds 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.