RGC Resources (NASDAQ:RGCO) Rating Increased to Hold at StockNews.com

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

RGC Resources Price Performance

RGC Resources stock traded down $0.10 during mid-day trading on Friday, hitting $20.80. 3,911 shares of the company were exchanged, compared to its average volume of 13,404. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.07 and a quick ratio of 0.69. RGC Resources has a 12-month low of $17.51 and a 12-month high of $24.20. The business’s 50 day simple moving average is $21.04 and its two-hundred day simple moving average is $20.76. The company has a market capitalization of $212.56 million, a P/E ratio of 17.93 and a beta of 0.17.

Institutional Investors Weigh In On RGC Resources

Hedge funds have recently modified their holdings of the stock. Burke & Herbert Bank & Trust Co. acquired a new position in RGC Resources during the second quarter valued at approximately $819,000. Gabelli Funds LLC boosted its position in shares of RGC Resources by 16.4% in the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after buying an additional 31,651 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 4,202 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of RGC Resources by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after buying an additional 497 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in RGC Resources by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock worth $217,000 after acquiring an additional 539 shares in the last quarter. 35.77% of the stock is owned by institutional investors and hedge funds.

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.