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

Wall Street Zen downgraded shares of RGC Resources (NASDAQ:RGCO) from a buy rating to a hold rating in a report released on Saturday.

Separately, Weiss Ratings upgraded RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

RGC Resources Stock Down 1.3%

RGCO stock opened at $21.59 on Friday. RGC Resources has a one year low of $20.55 and a one year high of $27.99. The stock has a market capitalization of $224.97 million, a PE ratio of 16.11 and a beta of 0.51. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.69. The company has a fifty day moving average of $23.43 and a 200-day moving average of $22.60.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). RGC Resources had a return on equity of 11.85% and a net margin of 13.05%.The firm had revenue of $17.11 million for the quarter, compared to analyst estimates of $18.19 million.

RGC Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were paid a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources’s dividend payout ratio (DPR) is presently 64.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in RGC Resources in the 2nd quarter valued at about $10,213,000. Deutsche Bank AG purchased a new position in RGC Resources during the 2nd quarter valued at about $199,000. Bank of New York Mellon Corp acquired a new position in RGC Resources during the second quarter worth about $1,717,000. Oppenheimer Asset Management Inc. acquired a new position in RGC Resources during the second quarter worth about $248,000. Finally, Gabelli Funds LLC lifted its holdings in shares of RGC Resources by 0.6% in the first quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock valued at $5,078,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Company Profile

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.