RGC Resources (NASDAQ:RGCO) Upgraded 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 report report published on Friday.

RGC Resources Price Performance

Shares of NASDAQ:RGCO opened at $22.67 on Friday. The company has a market cap of $231.69 million, a PE ratio of 17.44 and a beta of 0.15. RGC Resources has a fifty-two week low of $15.36 and a fifty-two week high of $23.70. The firm has a 50-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 posted its earnings results on Monday, August 5th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $14.46 million for the quarter, compared to the consensus estimate of $14.00 million. RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. During the same period last year, the company posted $0.07 earnings per share. On average, sell-side analysts anticipate that RGC Resources will post 1.14 EPS for the current year.

Hedge Funds Weigh In On RGC Resources

Institutional investors have recently modified their holdings of the company. Gabelli Funds LLC grew its position in RGC Resources by 14.3% in the 1st quarter. Gabelli Funds LLC now owns 192,555 shares of the energy company’s stock worth $3,897,000 after purchasing an additional 24,055 shares during the last quarter. Burke & Herbert Bank & Trust Co. acquired a new position in RGC Resources during the 2nd quarter worth $819,000. Russell Investments Group Ltd. grew its stake in shares of RGC Resources by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock worth $3,674,000 after purchasing an additional 36,685 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of RGC Resources by 62.0% during the first quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock valued at $81,000 after purchasing an additional 1,535 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of RGC Resources by 1.0% during 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. 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.