RGC Resources (NASDAQ:RGCO) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research note issued to investors on Thursday.

RGC Resources Stock Performance

RGCO stock traded up $0.16 during mid-day trading on Thursday, reaching $20.63. 1,423 shares of the stock traded hands, compared to its average volume of 13,533. The firm has a market capitalization of $210.84 million, a PE ratio of 16.38 and a beta of 0.16. The business has a 50-day moving average of $20.90 and a two-hundred day moving average of $20.64. RGC Resources has a 52 week low of $15.50 and a 52 week high of $23.70. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25.

RGC Resources (NASDAQ:RGCO) last announced its earnings results on Monday, August 5th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $14.46 million for the quarter, compared to the consensus estimate of $14.00 million. RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. During the same quarter in the previous year, the company earned $0.07 EPS. As a group, equities analysts predict that RGC Resources will post 1.14 EPS for the current fiscal year.

RGC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.88%. The ex-dividend date is Friday, October 18th. RGC Resources’s payout ratio is currently 64.00%.

Institutional Trading of RGC Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of RGC Resources by 62.0% during the 1st quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock worth $81,000 after purchasing an additional 1,535 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in RGC Resources by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock valued at $3,674,000 after buying an additional 36,685 shares during the period. Vanguard Group Inc. raised its stake in shares of RGC Resources by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock valued at $8,861,000 after buying an additional 4,202 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of RGC Resources by 6.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock valued at $7,280,000 after buying an additional 22,400 shares in the last quarter. Finally, Teton Advisors Inc. lifted 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 worth $1,761,000 after acquiring an additional 1,000 shares during the period. 35.77% of the stock is currently owned by institutional investors and hedge funds.

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.