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 research note released on Friday morning.

RGC Resources Trading Down 0.4 %

Shares of RGCO stock opened at $22.57 on Friday. RGC Resources has a fifty-two week low of $15.36 and a fifty-two week high of $23.70. The stock has a market cap of $229.79 million, a P/E ratio of 17.44 and a beta of 0.15. The business has a fifty day simple moving average of $20.89 and a 200-day simple moving average of $20.56. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Monday, August 5th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $14.00 million. During the same period in the prior year, the firm earned $0.07 earnings per share. On average, analysts forecast that RGC Resources will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of RGC Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in RGC Resources by 1.0% in the first quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock valued at $8,861,000 after purchasing an additional 4,202 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of RGC Resources by 6.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock worth $7,280,000 after acquiring an additional 22,400 shares during the period. Gabelli Funds LLC lifted its position in shares of RGC Resources by 16.4% in 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 during the period. Russell Investments Group Ltd. lifted its position in shares of RGC Resources by 25.3% during the 1st quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock worth $3,674,000 after buying an additional 36,685 shares during the period. Finally, Teton Advisors Inc. lifted its position in shares of RGC Resources by 1.2% during the 1st quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company’s stock worth $1,761,000 after buying an additional 1,000 shares during the period. 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.