StockNews.com lowered shares of RGC Resources (NASDAQ:RGCO - Free Report) from a hold rating to a sell rating in a report released on Saturday morning.
RGC Resources Stock Performance
RGCO stock traded up $0.03 during trading on Friday, reaching $22.33. The company had a trading volume of 7,486 shares, compared to its average volume of 13,605. The company has a market cap of $228.19 million, a price-to-earnings ratio of 17.86 and a beta of 0.17. RGC Resources has a twelve month low of $15.50 and a twelve month 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 firm has a 50-day simple moving average of $20.97 and a 200-day simple moving average of $20.74.
RGC Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Friday, October 18th. RGC Resources's payout ratio is 64.00%.
Institutional Trading of RGC Resources
Several institutional investors and hedge funds have recently bought and sold shares of RGCO. Rhumbline Advisers raised its holdings in shares of RGC Resources by 5.6% during the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company's stock worth $191,000 after purchasing an additional 497 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in RGC Resources by 5.3% in the 1st 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 in the last quarter. Renaissance Technologies LLC grew its stake 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 worth $888,000 after purchasing an additional 600 shares during the period. Teton Advisors Inc. increased its holdings in shares of RGC Resources by 1.2% during the 1st quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company's stock valued at $1,761,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fruth Investment Management lifted its stake in shares of RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company's stock valued at $295,000 after purchasing an additional 1,198 shares during the period. 35.77% of the stock is currently owned by institutional investors and hedge funds.
RGC Resources Company Profile
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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.
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