RGC Resources (RGCO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research report released on Friday morning.

According to Zacks, “RGC Resources, Inc. has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas and Diversified Energy Company, which serves the Roanoke Valley, Southwestern Virginia and Southern West Virginia. The company’s stock will continue to be listed on the Nasdaq National Market, trading symbol RGCO. (PRESS RELEASE) “

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Shares of NASDAQ:RGCO opened at $27.54 on Friday. The firm has a market capitalization of $220.95 million, a price-to-earnings ratio of 28.99 and a beta of -0.34. The company has a quick ratio of 0.29, a current ratio of 1.15 and a debt-to-equity ratio of 1.10. RGC Resources has a 1 year low of $23.00 and a 1 year high of $31.33.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Monday, February 4th. The energy company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $21.22 million during the quarter, compared to the consensus estimate of $19.15 million. RGC Resources had a net margin of 11.28% and a return on equity of 9.61%. On average, equities analysts forecast that RGC Resources will post 1.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.66 dividend on an annualized basis and a yield of 2.40%. RGC Resources’s dividend payout ratio (DPR) is presently 32.63%.

In other news, VP Robert L. Wells II sold 2,431 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $28.00, for a total transaction of $68,068.00. Following the completion of the transaction, the vice president now owns 13,980 shares in the company, valued at approximately $391,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Orazio John S. D sold 4,900 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $28.00, for a total value of $137,200.00. Following the transaction, the chief executive officer now owns 46,167 shares of the company’s stock, valued at approximately $1,292,676. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 186 shares of company stock valued at $5,326 and sold 12,187 shares valued at $341,080. 7.30% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of RGCO. Metropolitan Life Insurance Co. NY bought a new position in shares of RGC Resources during the 4th quarter worth $76,000. MetLife Investment Advisors LLC bought a new position in shares of RGC Resources during the 4th quarter worth $104,000. Bank of America Corp DE grew its stake in shares of RGC Resources by 59.6% during the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock worth $207,000 after acquiring an additional 2,650 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of RGC Resources during the 4th quarter worth $218,000. Finally, Renaissance Technologies LLC bought a new position in shares of RGC Resources during the 3rd quarter worth $296,000.

RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

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