RGC Resources (NASDAQ:RGCO) Rating Lowered to Sell at StockNews.com

RGC Resources (NASDAQ:RGCO) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

RGC Resources Stock Down 1.0 %

Shares of NASDAQ:RGCO traded down $0.22 during midday trading on Friday, hitting $21.25. The stock had a trading volume of 3,430 shares, compared to its average volume of 14,948. 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 business’s 50-day simple moving average is $20.68 and its 200-day simple moving average is $20.30. RGC Resources has a 12 month low of $15.36 and a 12 month high of $23.70. The company has a market cap of $216.35 million, a P/E ratio of 16.35 and a beta of 0.16.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Monday, August 5th. The energy company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $14.46 million during 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 business earned $0.07 EPS. On average, sell-side analysts forecast that RGC Resources will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of RGC Resources

Several institutional investors and hedge funds have recently bought and sold shares of RGCO. FCA Corp TX increased its holdings in shares of RGC Resources by 2.4% during the 4th quarter. FCA Corp TX now owns 43,213 shares of the energy company’s stock worth $879,000 after acquiring an additional 1,009 shares during the last quarter. Gabelli Funds LLC boosted its position in RGC Resources by 2.3% during the fourth quarter. Gabelli Funds LLC now owns 168,500 shares of the energy company’s stock worth $3,427,000 after purchasing an additional 3,800 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of RGC Resources by 62.0% in 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 last quarter. Russell Investments Group Ltd. raised its position 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 valued at $3,674,000 after purchasing an additional 36,685 shares during the period. Finally, Vanguard Group Inc. lifted its stake 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 buying an additional 4,202 shares during the last quarter. Institutional investors own 35.77% of the company’s stock.

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.