RGC Resources (NASDAQ:RGCO) Raised to "Buy" at Wall Street Zen

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

RGC Resources Trading Down 0.3%

Shares of RGCO traded down $0.07 during trading hours on Friday, hitting $22.72. The company had a trading volume of 17,258 shares, compared to its average volume of 12,441. The firm has a market cap of $234.24 million, a P/E ratio of 17.75 and a beta of 0.45. The stock's 50 day moving average price is $21.28 and its 200 day moving average price is $20.92. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 0.98. RGC Resources has a 52-week low of $19.05 and a 52-week high of $24.20.

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

RGC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a dividend of $0.2075 per share. The ex-dividend date is Friday, July 18th. This represents a $0.83 dividend on an annualized basis and a yield of 3.65%. RGC Resources's dividend payout ratio is presently 64.84%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in RGC Resources by 293.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company's stock valued at $26,000 after purchasing an additional 951 shares during the period. GAMMA Investing LLC grew its holdings in shares of RGC Resources by 5,110.7% during the 1st quarter. GAMMA Investing LLC now owns 7,764 shares of the energy company's stock worth $162,000 after acquiring an additional 7,615 shares during the period. Wells Fargo & Company MN grew its holdings in shares of RGC Resources by 12.2% during the 4th quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company's stock worth $195,000 after acquiring an additional 1,055 shares during the period. Deutsche Bank AG purchased a new position in shares of RGC Resources during the 4th quarter worth approximately $224,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of RGC Resources by 6.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,454 shares of the energy company's stock worth $230,000 after acquiring an additional 680 shares during the period. 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.