RGC Resources (NASDAQ:RGCO) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of RGC Resources in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, RGC Resources has an average rating of “Hold”.

RGC Resources Stock Down 2.8%

Shares of NASDAQ:RGCO opened at $21.85 on Friday. The company has a market capitalization of $226.17 million, a PE ratio of 17.62 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.03 and a quick ratio of 0.59. The business has a fifty day moving average price of $21.85 and a two-hundred day moving average price of $21.75. RGC Resources has a 1 year low of $19.50 and a 1 year high of $23.82.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Thursday, February 5th. The energy company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The business had revenue of $30.26 million for the quarter, compared to the consensus estimate of $28.21 million. RGC Resources had a return on equity of 11.13% and a net margin of 13.11%. Analysts forecast that RGC Resources will post 1.23 earnings per share for the current year.

RGC Resources Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of RGC Resources by 5.6% during the second quarter. Envestnet Asset Management Inc. now owns 12,654 shares of the energy company’s stock worth $283,000 after acquiring an additional 668 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in shares of RGC Resources during the 2nd quarter valued at $59,000. Prospera Financial Services Inc purchased a new stake in RGC Resources during the 2nd quarter worth about $3,544,000. Los Angeles Capital Management LLC purchased a new stake in RGC Resources during the 2nd quarter worth about $381,000. Finally, Geode Capital Management LLC boosted its stake in RGC Resources by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock worth $4,441,000 after purchasing an additional 1,701 shares during the period. 35.77% of the stock is currently 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.