RGC Resources (NASDAQ:RGCO) Raised to Hold at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

RGC Resources Stock Performance

Shares of RGCO stock opened at $17.11 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.95 and a debt-to-equity ratio of 1.25. The company has a 50-day simple moving average of $16.90 and a 200 day simple moving average of $18.59. RGC Resources has a 52 week low of $15.36 and a 52 week high of $24.55.

RGC Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Monday, October 16th were issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend was Friday, October 13th. RGC Resources’s payout ratio is -658.28%.

Insider Buying and Selling

In related news, Director John B. Williamson III bought 1,534 shares of RGC Resources stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average price of $18.15 per share, with a total value of $27,842.10. Following the acquisition, the director now owns 164,051 shares of the company’s stock, valued at approximately $2,977,525.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other RGC Resources news, Director John B. Williamson III acquired 1,534 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was purchased at an average price of $18.15 per share, with a total value of $27,842.10. Following the acquisition, the director now directly owns 164,051 shares of the company’s stock, valued at approximately $2,977,525.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Williamson III acquired 1,466 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was acquired at an average cost of $18.20 per share, with a total value of $26,681.20. Following the acquisition, the director now directly owns 165,517 shares in the company, valued at $3,012,409.40. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 4,466 shares of company stock valued at $80,906. Company insiders own 6.00% of the company’s stock.

Institutional Trading of RGC Resources

A number of institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its holdings in RGC Resources by 0.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 349,037 shares of the energy company’s stock valued at $6,038,000 after purchasing an additional 1,500 shares during the period. Quadrature Capital Ltd raised its position in shares of RGC Resources by 39.0% in the 3rd quarter. Quadrature Capital Ltd now owns 16,822 shares of the energy company’s stock valued at $290,000 after buying an additional 4,716 shares in the last quarter. FCA Corp TX raised its position in shares of RGC Resources by 21.2% in the 3rd quarter. FCA Corp TX now owns 42,204 shares of the energy company’s stock valued at $730,000 after buying an additional 7,389 shares in the last quarter. Gabelli Funds LLC raised its position in shares of RGC Resources by 54.3% in the 3rd quarter. Gabelli Funds LLC now owns 164,700 shares of the energy company’s stock valued at $2,849,000 after buying an additional 57,930 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of RGC Resources in the 3rd quarter valued at approximately $4,278,000.

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 1,168 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.