RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.73 and traded as low as $19.37. RGC Resources shares last traded at $20.16, with a volume of 8,288 shares traded.
Analyst Ratings Changes
Separately, StockNews.com lowered RGC Resources from a "hold" rating to a "sell" rating in a research report on Thursday, December 19th.
Get Our Latest Research Report on RGC Resources
RGC Resources Stock Up 0.9 %
The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. The company has a market cap of $208.85 million, a PE ratio of 17.54 and a beta of 0.18. The company's fifty day moving average is $20.60 and its 200-day moving average is $20.73.
RGC Resources Increases Dividend
The company 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 $0.2075 dividend. This is an increase from RGC Resources's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.83 dividend on an annualized basis and a yield of 4.08%. RGC Resources's dividend payout ratio is currently 71.55%.
Institutional Trading of RGC Resources
Several large investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its position in shares of RGC Resources by 16.4% during the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company's stock valued at $4,585,000 after acquiring an additional 31,651 shares during the period. Cutter & CO Brokerage Inc. raised its position in shares of 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. JPMorgan Chase & Co. lifted its stake 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 in the last quarter. Barclays PLC boosted 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 worth $247,000 after buying an additional 7,879 shares during the period. Finally, Geode Capital Management LLC increased its stake 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 worth $4,429,000 after buying an additional 7,701 shares in the last quarter. 35.77% of the stock is currently owned by institutional investors.
About RGC Resources
(
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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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