RGC Resources Inc. (NASDAQ:RGCO) Short Interest Down 16.9% in January

RGC Resources Inc. (NASDAQ:RGCO) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 60,531 shares, a decrease of 16.9% from the January 15th total of 72,859 shares. Based on an average daily volume of 10,570 shares, the short-interest ratio is currently 5.7 days. Approximately 0.6% of the shares of the company are short sold. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 10,570 shares, the short-interest ratio is currently 5.7 days.

Institutional Investors Weigh In On RGC Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGCO. New York State Common Retirement Fund grew its position in shares of RGC Resources by 647.1% during the 3rd quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock worth $28,000 after buying an additional 1,100 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after buying an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets lifted its position in RGC Resources by 80.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock worth $41,000 after acquiring an additional 812 shares during the period. Nisa Investment Advisors LLC boosted its position in RGC Resources by 45.7% in the third quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after buying an additional 800 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in shares of RGC Resources in the second quarter worth $59,000. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RGCO shares. Weiss Ratings upgraded RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Wall Street Zen raised RGC Resources from a “sell” rating to a “hold” rating in a research note on Sunday. One analyst has rated the stock with a Buy rating, According to MarketBeat, RGC Resources currently has an average rating of “Buy”.

RGC Resources Stock Performance

RGCO traded up $0.18 during mid-day trading on Monday, reaching $21.86. 6,278 shares of the company traded hands, compared to its average volume of 9,627. RGC Resources has a 52-week low of $19.50 and a 52-week high of $23.82. The stock has a market capitalization of $227.13 million, a P/E ratio of 17.63 and a beta of 0.52. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 1.19. The company’s fifty day moving average price is $21.80 and its 200-day moving average price is $21.80.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Thursday, February 5th. The energy company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). RGC Resources had a net margin of 13.11% and a return on equity of 11.11%. The business had revenue of $30.26 million for the quarter, compared to the consensus estimate of $28.21 million. On average, sell-side analysts expect that RGC Resources will post 1.23 EPS for the current year.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 16th were paid a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.21. RGC Resources’s dividend payout ratio is presently 70.16%.

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.