RGC Resources (NASDAQ:RGCO) Earns Outperform Rating from Analysts at Huntington

Huntington started coverage on shares of RGC Resources (NASDAQ:RGCO) in a research note released on Monday, Marketbeat Ratings reports. The firm issued an outperform rating and a $27.00 target price on the energy company’s stock.

A number of other equities research analysts also recently issued reports on RGCO. Wall Street Zen downgraded shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of RGC Resources in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, RGC Resources presently has an average rating of “Buy” and a consensus target price of $27.00.

RGC Resources Stock Down 0.2%

RGCO stock opened at $21.41 on Monday. RGC Resources has a 12 month low of $20.55 and a 12 month high of $27.99. The firm has a 50 day simple moving average of $22.29 and a 200 day simple moving average of $22.61. The firm has a market cap of $223.09 million, a PE ratio of 15.98 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.94 and a quick ratio of 0.67.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). RGC Resources had a return on equity of 11.73% and a net margin of 13.05%.The company had revenue of $17.11 million for the quarter, compared to the consensus estimate of $18.19 million.

RGC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were issued a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources’s dividend payout ratio (DPR) is presently 64.93%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in RGC Resources in the second quarter worth $10,213,000. Gamco Investors INC. ET AL raised its stake 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 valued at $9,193,000 after buying an additional 3,600 shares in the last quarter. Gabelli Funds LLC raised 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 valued at $5,078,000 after buying an additional 1,300 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of RGC Resources by 3.8% during the 4th quarter. Prospera Financial Services Inc now owns 176,437 shares of the energy company’s stock worth $3,758,000 after acquiring an additional 6,423 shares during the period. Finally, Ancora Advisors LLC bought a new position in shares of RGC Resources during the 2nd quarter worth about $3,272,000. 35.77% of the stock is currently owned by institutional investors and hedge funds.

About RGC Resources

RGC Resources, Inc is a holding company whose principal subsidiary, Roanoke Gas Company, provides regulated natural gas distribution services in southwestern Virginia. The company delivers natural gas to residential, commercial and industrial customers through a local distribution network.

Roanoke Gas serves communities in and around the Roanoke Valley, including the cities of Roanoke, Salem and Vinton, as well as portions of surrounding counties. Its activities include operating and maintaining natural gas pipelines, providing customer connections and delivering gas for heating, water heating, cooking and other commercial and industrial uses.

RGC Resources traces its operating history to Roanoke Gas Company, which was established in the early twentieth century.