RGC Resources (NASDAQ:RGCO) Upgraded at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO - Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

RGC Resources Trading Up 1.4 %

Shares of RGCO traded up $0.30 during trading hours on Thursday, reaching $21.00. 8,235 shares of the company traded hands, compared to its average volume of 10,695. The firm has a market cap of $215.46 million, a price-to-earnings ratio of 18.10 and a beta of 0.18. RGC Resources has a 12-month low of $18.25 and a 12-month high of $24.20. The stock's fifty day moving average price is $20.45 and its 200 day moving average price is $20.74. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26.

RGC Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Friday, January 17th were given a dividend of $0.2075 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a positive change from RGC Resources's previous quarterly dividend of $0.20. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.95%. RGC Resources's dividend payout ratio (DPR) is 71.55%.

Institutional Trading of RGC Resources

A number of large investors have recently modified their holdings of the company. Cutter & CO Brokerage Inc. raised its position in 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 in the last quarter. JPMorgan Chase & Co. increased its stake in shares of RGC Resources by 267.6% during the third 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 during the period. Barclays PLC increased its stake in shares of RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company's stock valued at $247,000 after buying an additional 7,879 shares during the period. Geode Capital Management LLC raised its holdings in shares of RGC Resources by 4.1% in the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company's stock valued at $4,429,000 after acquiring an additional 7,701 shares in the last quarter. Finally, Fruth Investment Management lifted its stake in RGC Resources by 10.1% in the third quarter. Fruth Investment Management now owns 13,100 shares of the energy company's stock worth $295,000 after acquiring an additional 1,198 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.