Shares of RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.75 and traded as low as $19.62. RGC Resources shares last traded at $19.62, with a volume of 20,224 shares.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded RGC Resources from a "hold" rating to a "sell" rating in a research note on Thursday, December 19th.
Get Our Latest Report on RGCO
RGC Resources Price Performance
The firm has a 50 day moving average price of $20.71 and a two-hundred day moving average price of $20.76. The company has a market cap of $201.36 million, a P/E ratio of 16.91 and a beta of 0.17. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.52 and a current ratio of 0.87.
RGC Resources Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 17th will be paid 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 annualized dividend and a dividend yield of 4.23%. RGC Resources's dividend payout ratio (DPR) is presently 71.55%.
Institutional Investors Weigh In On RGC Resources
A number of institutional investors and hedge funds have recently bought and sold shares of RGCO. Rhumbline Advisers raised its holdings in RGC Resources by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company's stock worth $191,000 after purchasing an additional 497 shares in the last quarter. Barclays PLC lifted its holdings in RGC Resources by 257.3% in the third 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. Fruth Investment Management boosted its position in RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company's stock valued at $295,000 after acquiring an additional 1,198 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of RGC Resources by 267.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company's stock worth $332,000 after acquiring an additional 10,697 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of 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 purchasing an additional 1,161 shares during the period. 35.77% of the stock is owned by hedge funds and other 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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