StockNews.com Lowers RGC Resources (NASDAQ:RGCO) to Sell

RGC Resources (NASDAQ:RGCO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

RGC Resources Stock Up 0.8 %

Shares of RGC Resources stock traded up $0.17 on Monday, hitting $21.78. 7,002 shares of the company traded hands, compared to its average volume of 14,543. RGC Resources has a 12-month low of $15.36 and a 12-month high of $23.70. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25. The company has a market cap of $221.74 million, a PE ratio of 16.75 and a beta of 0.15. The company has a 50-day moving average price of $20.80 and a 200 day moving average price of $20.43.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Monday, August 5th. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. The firm had revenue of $14.46 million during the quarter, compared to analysts’ expectations of $14.00 million. During the same quarter last year, the firm earned $0.07 EPS. Sell-side analysts predict that RGC Resources will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RGCO. Gabelli Funds LLC boosted its stake in shares of RGC Resources by 16.4% during the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after acquiring an additional 31,651 shares in the last quarter. Renaissance Technologies LLC boosted its position in RGC Resources by 1.4% during the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after purchasing an additional 600 shares during the period. Rhumbline Advisers grew its holdings in RGC Resources by 5.6% during the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares during the last quarter. Burke & Herbert Bank & Trust Co. bought a new position in shares of RGC Resources in the second quarter valued at approximately $819,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of RGC Resources by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock worth $217,000 after buying an additional 539 shares during the last quarter. Institutional investors own 35.77% of the company’s stock.

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.