StockNews.com downgraded shares of RGC Resources (NASDAQ:RGCO - Free Report) from a hold rating to a sell rating in a research report released on Thursday.
RGC Resources Stock Performance
Shares of NASDAQ:RGCO traded down $0.16 during trading on Thursday, reaching $19.66. 22,856 shares of the company's stock traded hands, compared to its average volume of 13,320. The stock has a market capitalization of $201.77 million, a P/E ratio of 16.95 and a beta of 0.17. RGC Resources has a 12 month low of $17.90 and a 12 month high of $24.20. The company has a 50 day moving average of $20.86 and a 200-day moving average of $20.78. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52.
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 given a $0.2075 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from RGC Resources's previous quarterly dividend of $0.20. This represents a $0.83 annualized dividend and a yield of 4.22%. RGC Resources's dividend payout ratio (DPR) is currently 71.55%.
Hedge Funds Weigh In On RGC Resources
Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its stake in RGC Resources by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company's stock valued at $191,000 after purchasing an additional 497 shares during the period. Barclays PLC boosted its position 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 worth $247,000 after buying an additional 7,879 shares during the period. Fruth Investment Management grew its holdings in RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company's stock worth $295,000 after buying an additional 1,198 shares in the last quarter. Cerity Partners LLC increased its position 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 period. Finally, Renaissance Technologies LLC raised its stake in RGC Resources by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company's stock valued at $888,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company's stock.
RGC Resources Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider RGC Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RGC Resources wasn't on the list.
While RGC Resources currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
