RGC Resources (NASDAQ:RGCO) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a buy rating in a research note released on Friday morning.

RGC Resources Price Performance

Shares of RGCO opened at $21.79 on Friday. The firm has a market capitalization of $224.37 million, a PE ratio of 18.62 and a beta of 0.46. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41. The company’s fifty day moving average price is $21.13 and its 200-day moving average price is $20.80. RGC Resources has a 1-year low of $19.05 and a 1-year high of $24.20.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. The business had revenue of $36.46 million for the quarter, compared to analyst estimates of $34.00 million. On average, equities research 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 issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, July 18th. RGC Resources’s dividend payout ratio (DPR) is currently 70.94%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL grew its position in RGC Resources by 3.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 405,700 shares of the energy company’s stock worth $8,138,000 after purchasing an additional 12,300 shares during the period. Gabelli Funds LLC grew its holdings in RGC Resources by 0.3% during the fourth quarter. Gabelli Funds LLC now owns 229,000 shares of the energy company’s stock worth $4,594,000 after acquiring an additional 794 shares during the period. Cutter & CO Brokerage Inc. raised its position in RGC Resources by 7.9% during 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. Dimensional Fund Advisors LP lifted its holdings 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 during the period. Finally, Teton Advisors Inc. boosted its position in RGC Resources by 0.8% in the 4th quarter. Teton Advisors Inc. now owns 95,130 shares of the energy company’s stock worth $1,908,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

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.