RGC Resources (NASDAQ:RGCO) Upgraded by StockNews.com to “Hold”

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

RGC Resources Stock Performance

Shares of RGCO opened at $22.67 on Friday. The company has a market capitalization of $231.69 million, a PE ratio of 17.44 and a beta of 0.15. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.69 and a current ratio of 1.07. The company’s 50 day moving average price is $20.87 and its 200 day moving average price is $20.55. RGC Resources has a 52 week low of $15.36 and a 52 week high of $23.70.

RGC Resources (NASDAQ:RGCO) last posted its quarterly 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 analysts’ expectations of $14.00 million. RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Research analysts expect that RGC Resources will post 1.14 EPS for the current fiscal year.

Institutional Investors Weigh In On RGC Resources

Several large investors have recently made changes to their positions in RGCO. BNP Paribas Financial Markets lifted its stake in 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 acquiring an additional 1,535 shares during 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 purchasing an additional 497 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $217,000 after purchasing an additional 539 shares during the last quarter. Burke & Herbert Bank & Trust Co. bought a new stake in RGC Resources in the second quarter worth $819,000. Finally, Renaissance Technologies LLC increased its position in RGC Resources by 1.4% during the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after buying an additional 600 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.