RGC Resources (NASDAQ:RGCO) Upgraded 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 note issued to investors on Sunday.

Separately, Weiss Ratings raised shares of 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, According to MarketBeat.com, the company currently has an average rating of “Buy”.

RGC Resources Stock Performance

Shares of NASDAQ RGCO opened at $22.04 on Friday. RGC Resources has a 1 year low of $19.50 and a 1 year high of $23.82. The firm has a market cap of $229.00 million, a P/E ratio of 17.77 and a beta of 0.52. The stock has a fifty day moving average price of $21.80 and a two-hundred day moving average price of $21.83. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.80.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Thursday, February 5th. The energy company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). RGC Resources had a return on equity of 11.11% and a net margin of 13.11%.The firm had revenue of $30.26 million during the quarter, compared to the consensus estimate of $28.21 million. Research analysts forecast 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 paid a $0.2175 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.87 dividend on an annualized basis and a yield of 3.9%. This is an increase from RGC Resources’s previous quarterly dividend of $0.21. RGC Resources’s dividend payout ratio (DPR) is 70.16%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund lifted its position in shares of RGC Resources by 647.1% in the 3rd quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock valued at $28,000 after acquiring an additional 1,100 shares in the last quarter. Geneos Wealth Management Inc. grew its position in RGC Resources by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after purchasing an additional 1,068 shares in the last quarter. BNP Paribas Financial Markets raised its stake in RGC Resources by 80.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after purchasing an additional 812 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of RGC Resources by 45.7% in the third quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after purchasing an additional 800 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in shares of RGC Resources in the second quarter worth $59,000. 35.77% of the stock is owned by hedge funds and other institutional investors.

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.