Zacks Investment Research upgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $27.00 price target on the energy company’s stock.

According to Zacks, “RGC Resources, Inc. has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas and Diversified Energy Company, which serves the Roanoke Valley, Southwestern Virginia and Southern West Virginia. The company’s stock will continue to be listed on the Nasdaq National Market, trading symbol RGCO. (PRESS RELEASE) “

Several other research firms also recently issued reports on RGCO. Seaport Global Securities assumed coverage on shares of RGC Resources in a research report on Tuesday. They issued a neutral rating for the company. Janney Montgomery Scott raised shares of RGC Resources from a neutral rating to a buy rating and set a $27.00 price target for the company in a research report on Tuesday, February 6th. Finally, TheStreet downgraded shares of RGC Resources from a b rating to a c+ rating in a research report on Friday, February 2nd.

Shares of RGCO stock opened at $24.98 on Wednesday. The company has a market cap of $196.75, a PE ratio of 30.84 and a beta of -0.05. RGC Resources has a 52 week low of $21.21 and a 52 week high of $31.99. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.22 and a quick ratio of 0.78.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Monday, February 5th. The energy company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The company had revenue of $18.76 million for the quarter, compared to analyst estimates of $19.63 million. RGC Resources had a return on equity of 9.64% and a net margin of 9.73%. sell-side analysts expect that RGC Resources will post 0.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 16th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, April 13th. RGC Resources’s payout ratio is currently 72.09%.

A number of hedge funds and other institutional investors have recently bought and sold shares of RGCO. Vanguard Group Inc. grew its position in RGC Resources by 56.0% in the 2nd quarter. Vanguard Group Inc. now owns 42,896 shares of the energy company’s stock valued at $1,215,000 after purchasing an additional 15,393 shares during the period. State Street Corp acquired a new stake in RGC Resources in the 2nd quarter valued at $1,950,000. California State Teachers Retirement System acquired a new stake in RGC Resources in the 2nd quarter valued at $334,000. Bank of New York Mellon Corp grew its position in RGC Resources by 14.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,592 shares of the energy company’s stock valued at $588,000 after purchasing an additional 2,601 shares during the period. Finally, Wells Fargo & Company MN grew its position in RGC Resources by 67.2% in the 3rd quarter. Wells Fargo & Company MN now owns 10,282 shares of the energy company’s stock valued at $293,000 after purchasing an additional 4,131 shares during the period.

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RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.

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