StockNews.com Begins Coverage on RGC Resources (NASDAQ:RGCO)

StockNews.com started coverage on shares of RGC Resources (NASDAQ:RGCO – Get Rating) in a report published on Tuesday morning. The brokerage issued a hold rating on the energy company’s stock.

RGC Resources Price Performance

Shares of RGCO opened at $24.35 on Tuesday. The stock has a market capitalization of $205.08 million, a P/E ratio of -6.84 and a beta of -0.13. RGC Resources has a twelve month low of $18.01 and a twelve month high of $24.55. The company has a 50 day moving average of $22.10 and a 200-day moving average of $21.01. The company has a quick ratio of 1.27, a current ratio of 1.69 and a debt-to-equity ratio of 1.23.

RGC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Wednesday, January 18th will be issued a $0.1975 dividend. This represents a $0.79 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Tuesday, January 17th. This is an increase from RGC Resources’s previous quarterly dividend of $0.20.

Institutional Investors Weigh In On RGC Resources

Large investors have recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in shares of RGC Resources by 81.4% in the 2nd quarter. US Bancorp DE now owns 1,386 shares of the energy company’s stock valued at $26,000 after buying an additional 622 shares during the last quarter. Royal Bank of Canada lifted its holdings in RGC Resources by 11.5% during the 3rd quarter. Royal Bank of Canada now owns 7,921 shares of the energy company’s stock valued at $166,000 after purchasing an additional 818 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in RGC Resources by 27.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 12,842 shares of the energy company’s stock valued at $245,000 after purchasing an additional 2,734 shares during the last quarter. Boston Partners lifted its holdings in RGC Resources by 27.6% during the 1st quarter. Boston Partners now owns 15,275 shares of the energy company’s stock valued at $327,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in RGC Resources during the 2nd quarter valued at $457,000.

About RGC Resources

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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 1,157 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 6 metering stations.