RGC Resources (NASDAQ:RGCO) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

RGC Resources Stock Performance

Shares of NASDAQ:RGCO opened at $21.29 on Tuesday. The firm has a market cap of $219.54 million, a PE ratio of 18.20 and a beta of 0.46. The firm’s 50 day simple moving average is $21.29 and its 200-day simple moving average is $20.86. RGC Resources has a one year low of $19.05 and a one year high of $24.20. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. RGC Resources had a net margin of 13.73% and a return on equity of 10.94%. The firm had revenue of $36.46 million for the quarter, compared to the consensus estimate of $34.00 million. As a group, equities analysts predict that RGC Resources will post 1.23 EPS for the current year.

RGC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.2075 per share. The ex-dividend date is Friday, July 18th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.90%. RGC Resources’s dividend payout ratio is presently 64.84%.

Hedge Funds Weigh In On RGC Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Gamco Investors INC. ET AL boosted its stake in RGC Resources by 2.3% in the first quarter. Gamco Investors INC. ET AL now owns 415,100 shares of the energy company’s stock valued at $8,663,000 after acquiring an additional 9,400 shares in the last quarter. Gabelli Funds LLC boosted its stake in RGC Resources by 0.3% in the fourth quarter. Gabelli Funds LLC now owns 229,000 shares of the energy company’s stock valued at $4,594,000 after acquiring an additional 794 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in RGC Resources by 8.2% in the first quarter. Russell Investments Group Ltd. now owns 194,570 shares of the energy company’s stock valued at $4,061,000 after acquiring an additional 14,724 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in RGC Resources by 7.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 147,854 shares of the energy company’s stock valued at $3,086,000 after acquiring an additional 10,857 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in RGC Resources by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 120,400 shares of the energy company’s stock valued at $2,415,000 after acquiring an additional 3,684 shares in the last quarter. 35.77% of the stock is currently owned by institutional investors.

RGC Resources Company Profile

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.