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RGC Resources (NASDAQ:RGCO) Upgraded by Wall Street Zen to Buy Rating

RGC Resources logo with Energy background

Wall Street Zen upgraded shares of RGC Resources (NASDAQ:RGCO - Free Report) from a hold rating to a buy rating in a report issued on Sunday morning.

RGC Resources Stock Performance

Shares of RGC Resources stock traded down $0.05 during trading hours on Friday, reaching $22.94. The company had a trading volume of 11,910 shares, compared to its average volume of 12,493. RGC Resources has a one year low of $19.05 and a one year high of $24.20. The business has a fifty day simple moving average of $21.40 and a 200 day simple moving average of $20.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.57 and a quick ratio of 0.48. The firm has a market cap of $236.51 million, a PE ratio of 17.92 and a beta of 0.45.

RGC Resources (NASDAQ:RGCO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.06. RGC Resources had a return on equity of 11.86% and a net margin of 14.50%. The firm had revenue of $36.46 million during the quarter, compared to analyst estimates of $34.00 million. On average, analysts anticipate that RGC Resources will post 1.23 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Friday, July 18th. RGC Resources's payout ratio is currently 64.84%.

Institutional Investors Weigh In On RGC Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in shares of RGC Resources by 293.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company's stock worth $26,000 after buying an additional 951 shares in the last quarter. GAMMA Investing LLC raised its position in shares of RGC Resources by 5,110.7% in the first quarter. GAMMA Investing LLC now owns 7,764 shares of the energy company's stock worth $162,000 after buying an additional 7,615 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of RGC Resources by 12.2% in the fourth quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company's stock worth $195,000 after buying an additional 1,055 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of RGC Resources in the fourth quarter worth $224,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of RGC Resources by 6.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,454 shares of the energy company's stock worth $230,000 after buying an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company's stock.

RGC Resources Company Profile

(Get Free Report)

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.

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