RGC Resources (NASDAQ:RGCO) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a research report report published on Sunday.

Separately, Weiss Ratings raised RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, RGC Resources presently has an average rating of “Buy”.

RGC Resources Trading Up 0.8%

NASDAQ RGCO opened at $21.86 on Friday. RGC Resources has a 52 week low of $19.50 and a 52 week high of $23.82. The firm has a 50 day moving average of $21.80 and a two-hundred day moving average of $21.80. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $227.13 million, a PE ratio of 17.63 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Thursday, February 5th. The energy company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.05). The firm had revenue of $30.26 million for the quarter, compared to analysts’ expectations of $28.21 million. RGC Resources had a return on equity of 11.11% and a net margin of 13.11%. As a group, research analysts expect that RGC Resources will post 1.23 EPS for the current fiscal year.

RGC Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 16th were given a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 4.0%. This is a boost from RGC Resources’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, January 16th. RGC Resources’s dividend payout ratio is presently 70.16%.

Hedge Funds Weigh In On RGC Resources

Several hedge funds have recently made changes to their positions in RGCO. Vanguard Group Inc. lifted its holdings in shares of RGC Resources by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock valued at $9,922,000 after purchasing an additional 2,678 shares during the last quarter. Ameriprise Financial Inc. increased its position in RGC Resources by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after buying an additional 2,486 shares during the period. Russell Investments Group Ltd. lifted its stake in RGC Resources by 23.2% in the third quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock valued at $5,236,000 after buying an additional 43,900 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of RGC Resources by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 199,636 shares of the energy company’s stock valued at $4,253,000 after acquiring an additional 1,467 shares during the period. Finally, Prospera Financial Services Inc boosted its holdings in shares of RGC Resources by 3.8% in the fourth quarter. Prospera Financial Services Inc now owns 176,437 shares of the energy company’s stock valued at $3,758,000 after acquiring an additional 6,423 shares during the period. Hedge funds and other institutional investors own 35.77% of the company’s stock.

About RGC Resources

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.