RGC Resources Inc. (NASDAQ:RGCO – Get Free Report) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.54 and traded as low as $22.12. RGC Resources shares last traded at $22.12, with a volume of 19,468 shares changing hands.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on RGCO. Wall Street Zen upgraded shares of RGC Resources from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Weiss Ratings raised shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.
View Our Latest Analysis on RGCO
RGC Resources Price Performance
RGC Resources (NASDAQ:RGCO – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. RGC Resources had a net margin of 13.01% and a return on equity of 11.87%. The business had revenue of $45.46 million during the quarter, compared to analyst estimates of $38.20 million.
RGC Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 17th will be paid a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, July 17th. RGC Resources’s dividend payout ratio (DPR) is presently 64.93%.
Institutional Investors Weigh In On RGC Resources
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in RGC Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock valued at $9,922,000 after buying an additional 2,678 shares during the period. Gamco Investors INC. ET AL grew its position in shares of RGC Resources by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 416,900 shares of the energy company’s stock worth $9,193,000 after buying an additional 3,600 shares during the period. Ameriprise Financial Inc. grew its position in shares of RGC Resources by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after buying an additional 2,486 shares during the period. Russell Investments Group Ltd. increased its stake in shares of RGC Resources by 23.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock worth $5,236,000 after acquiring an additional 43,900 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of RGC Resources by 0.6% in the 1st quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock worth $5,078,000 after acquiring an additional 1,300 shares in the last quarter. 35.77% of the stock is owned by hedge funds and other institutional investors.
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.
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