RGC Resources (NASDAQ:RGCO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a research report released on Friday.

RGC Resources Price Performance

Shares of RGCO opened at $22.57 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. The company’s fifty day simple moving average is $20.89 and its 200 day simple moving average is $20.56. RGC Resources has a 1-year low of $15.36 and a 1-year high of $23.70. The company has a market cap of $229.79 million, a price-to-earnings ratio of 17.44 and a beta of 0.15.

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 the consensus estimate of $0.07 by ($0.05). The firm had revenue of $14.46 million for the quarter, compared to the consensus estimate 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 earned $0.07 EPS. On average, research analysts forecast that RGC Resources will post 1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RGC Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of RGC Resources by 62.0% during the 1st 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. Rhumbline Advisers lifted its position in RGC Resources by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after buying an additional 497 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in RGC Resources by 5.3% in the 1st 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. Burke & Herbert Bank & Trust Co. bought a new stake in RGC Resources in the 2nd quarter worth approximately $819,000. Finally, Renaissance Technologies LLC increased its stake in RGC Resources by 1.4% in the 2nd 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. 35.77% of the stock is currently owned by 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.