RGC Resources (NASDAQ:RGCO) Cut to Sell at StockNews.com

StockNews.com downgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research report released on Thursday morning.

RGC Resources Trading Down 0.8 %

Shares of RGCO stock opened at $19.66 on Thursday. The company has a market capitalization of $201.77 million, a price-to-earnings ratio of 16.95 and a beta of 0.17. RGC Resources has a twelve month low of $17.90 and a twelve month high of $24.20. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $20.85 and a 200 day moving average price of $20.77.

RGC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be given a dividend of $0.2075 per share. The ex-dividend date is Friday, January 17th. This is an increase 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 is 71.55%.

Institutional Trading of RGC Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGCO. Rhumbline Advisers raised its stake in RGC Resources by 5.6% during the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after purchasing an additional 497 shares during the period. Renaissance Technologies LLC raised its holdings in shares of RGC Resources by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after purchasing an additional 600 shares during the period. Gabelli Funds LLC lifted its stake in shares of RGC Resources by 16.4% in the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock valued at $4,585,000 after purchasing an additional 31,651 shares in the last quarter. Fruth Investment Management grew its holdings in shares of RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after purchasing an additional 1,198 shares during the period. Finally, Cutter & CO Brokerage Inc. increased 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 worth $3,113,000 after purchasing an additional 21,489 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.