RGC Resources (NASDAQ:RGCO) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a report published on Saturday morning.

RGC Resources Trading Up 2.4 %

Shares of RGCO stock opened at $20.11 on Friday. RGC Resources has a fifty-two week low of $15.36 and a fifty-two week high of $23.70. The company has a 50 day moving average price of $20.68 and a 200 day moving average price of $20.37. The stock has a market capitalization of $205.52 million, a P/E ratio of 15.47 and a beta of 0.15. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.69 and a current ratio of 1.07.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Monday, August 5th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $14.46 million for the quarter, compared to analysts’ expectations of $14.00 million. RGC Resources had a return on equity of 11.93% and a net margin of 15.04%. During the same period in the prior year, the company posted $0.07 EPS. Equities research analysts predict that RGC Resources will post 1.14 EPS for the current fiscal year.

Institutional Trading of RGC Resources

A number of large investors have recently made changes to their positions in the company. Burke & Herbert Bank & Trust Co. purchased a new stake in shares of RGC Resources in the 2nd quarter valued at approximately $819,000. Russell Investments Group Ltd. raised its stake in RGC Resources by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock valued at $3,674,000 after buying an additional 36,685 shares in the last quarter. Gabelli Funds LLC raised its stake in RGC Resources by 16.4% in the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock valued at $4,585,000 after buying an additional 31,651 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in RGC Resources by 6.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock worth $7,280,000 after buying an additional 22,400 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of RGC Resources by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after acquiring an additional 4,202 shares in the last quarter. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

RGC Resources Company Profile

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.