RGC Resources (RGCO) Coverage Initiated by Analysts at Seaport Global Securities

Seaport Global Securities started coverage on shares of RGC Resources (NASDAQ:RGCO) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued a neutral rating on the energy company’s stock.

Several other analysts have also recently commented on the stock. Zacks Investment Research raised shares of RGC Resources from a sell rating to a hold rating in a research note on Thursday, February 15th. TheStreet raised shares of RGC Resources from a c+ rating to a b+ rating in a research note on Friday, March 9th. Finally, Janney Montgomery Scott assumed coverage on shares of RGC Resources in a research note on Wednesday, December 20th. They set a neutral rating and a $29.00 price objective for the company.

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RGCO stock opened at $24.49 on Tuesday. The company has a market capitalization of $193.56, a price-to-earnings ratio of 28.48 and a beta of -0.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.22 and a quick ratio of 0.78. RGC Resources has a one year low of $21.00 and a one year high of $31.99.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Monday, February 5th. The energy company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.09). The firm had revenue of $18.76 million during the quarter, compared to analysts’ expectations of $19.63 million. RGC Resources had a return on equity of 9.64% and a net margin of 9.73%. sell-side analysts expect that RGC Resources will post 0.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Monday, April 16th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.62 annualized dividend and a dividend yield of 2.53%. RGC Resources’s dividend payout ratio is presently 72.09%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of RGC Resources by 67.2% during the 3rd quarter. Wells Fargo & Company MN now owns 10,282 shares of the energy company’s stock valued at $293,000 after buying an additional 4,131 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of RGC Resources by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 76,714 shares of the energy company’s stock valued at $2,192,000 after buying an additional 3,657 shares during the period. Bank of New York Mellon Corp grew its stake in shares of RGC Resources by 14.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,592 shares of the energy company’s stock valued at $588,000 after buying an additional 2,601 shares during the period. California State Teachers Retirement System purchased a new stake in shares of RGC Resources during the 2nd quarter valued at $334,000. Finally, State Street Corp acquired a new position in shares of RGC Resources during the 2nd quarter valued at $1,950,000.

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About RGC Resources

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 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.

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