RGC Resources Inc. (NASDAQ:RGCO) Short Interest Down 19.3% in December

RGC Resources Inc. (NASDAQ:RGCO) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 57,187 shares, a drop of 19.3% from the December 15th total of 70,864 shares. Based on an average trading volume of 13,258 shares, the days-to-cover ratio is currently 4.3 days. Currently, 0.6% of the company’s shares are sold short. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 13,258 shares, the days-to-cover ratio is currently 4.3 days.

Hedge Funds Weigh In On RGC Resources

Several institutional investors and hedge funds have recently modified their holdings of RGCO. Cary Street Partners Financial LLC boosted its stake in RGC Resources by 1.8% in the 3rd quarter. Cary Street Partners Financial LLC now owns 31,817 shares of the energy company’s stock worth $714,000 after purchasing an additional 557 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in RGC Resources by 5.6% in the second quarter. Envestnet Asset Management Inc. now owns 12,654 shares of the energy company’s stock worth $283,000 after buying an additional 668 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of RGC Resources by 45.7% in the third quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock worth $57,000 after buying an additional 800 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of RGC Resources by 80.9% during the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after buying an additional 812 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of RGC Resources by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after buying an additional 1,068 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RGC Resources in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, RGC Resources currently has an average rating of “Hold”.

RGC Resources Stock Down 2.5%

RGC Resources stock traded down $0.55 on Monday, hitting $21.62. 12,316 shares of the stock traded hands, compared to its average volume of 12,054. RGC Resources has a 1 year low of $19.50 and a 1 year high of $23.82. The firm has a market cap of $223.77 million, a P/E ratio of 16.89 and a beta of 0.53. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.28. The business’s fifty day simple moving average is $21.88 and its 200 day simple moving average is $21.79.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Thursday, December 4th. The energy company reported $1.29 earnings per share (EPS) for the quarter. RGC Resources had a net margin of 13.93% and a return on equity of 11.56%. During the same period last year, the business posted $1.16 earnings per share. As a group, sell-side analysts forecast that RGC Resources will post 1.23 earnings per share for the current year.

RGC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 16th will be issued a dividend of $0.2175 per share. The ex-dividend date is Friday, January 16th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.21. This represents a $0.87 annualized dividend and a dividend yield of 4.0%. RGC Resources’s dividend payout ratio (DPR) is 64.84%.

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.