RGC Resources (NASDAQ:RGCO) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a report published on Thursday.

RGC Resources Stock Down 0.8 %

Shares of NASDAQ:RGCO opened at $19.66 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26. The firm has a 50 day simple moving average of $20.85 and a 200-day simple moving average of $20.77. The company has a market capitalization of $201.77 million, a PE ratio of 16.95 and a beta of 0.17. RGC Resources has a twelve month low of $17.90 and a twelve month high of $24.20.

RGC Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 17th will be given a dividend of $0.2075 per share. The ex-dividend date is Friday, January 17th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.22%. This is a boost from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s payout ratio is 71.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RGCO. Gabelli Funds LLC boosted its stake in shares of RGC Resources by 16.4% during the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after buying an additional 31,651 shares during the period. Cutter & CO Brokerage Inc. grew its position in RGC Resources by 18.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock worth $3,113,000 after buying an additional 21,489 shares during the period. Barclays PLC raised its holdings in RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after purchasing an additional 7,879 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of RGC Resources by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after buying an additional 7,701 shares in the last quarter. Finally, Fruth Investment Management lifted its holdings in shares of RGC Resources by 10.1% in the third quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock valued at $295,000 after purchasing an additional 1,198 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.