RGC Resources (NASDAQ:RGCO) Upgraded at StockNews.com

RGC Resources (NASDAQ:RGCO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

RGC Resources Stock Performance

RGCO opened at $21.00 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. The stock’s 50 day moving average price is $20.45 and its two-hundred day moving average price is $20.76. The firm has a market capitalization of $215.46 million, a P/E ratio of 18.10 and a beta of 0.18. RGC Resources has a 12-month low of $18.25 and a 12-month high of $24.20.

Institutional Trading of RGC Resources

A number of hedge funds have recently bought and sold shares of the stock. Fruth Investment Management raised its position in shares of RGC Resources by 5.3% during the fourth quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock valued at $276,000 after buying an additional 700 shares during the last quarter. JPMorgan Chase & Co. increased its stake in RGC Resources by 267.6% during the third quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after acquiring an additional 10,697 shares during the period. Barclays PLC lifted its position in shares of RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after acquiring an additional 7,879 shares during the period. Geode Capital Management LLC grew its holdings in shares of RGC Resources by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after purchasing an additional 7,701 shares in the last quarter. Finally, State Street Corp increased its position in shares of RGC Resources by 0.6% during the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after purchasing an additional 592 shares during the period. 35.77% of the stock is owned by institutional investors.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.