RGC Resources (NASDAQ:RGCO) Raised to “Hold” at StockNews.com

RGC Resources (NASDAQ:RGCO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

RGC Resources Trading Up 1.7 %

RGCO stock opened at $20.58 on Tuesday. The company’s 50-day simple moving average is $20.88 and its 200-day simple moving average is $20.63. 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 has a 52-week low of $15.36 and a 52-week high of $23.70. The firm has a market cap of $209.52 million, a P/E ratio of 15.83 and a beta of 0.16.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Monday, August 5th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). RGC Resources had a return on equity of 11.93% and a net margin of 15.04%. The firm had revenue of $14.46 million for the quarter, compared to analysts’ expectations of $14.00 million. During the same period in the previous year, the company earned $0.07 earnings per share. As a group, equities analysts forecast that RGC Resources will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RGCO. Burke & Herbert Bank & Trust Co. purchased a new position in RGC Resources in the 2nd quarter valued at about $819,000. Russell Investments Group Ltd. lifted its stake in RGC Resources by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock valued at $3,674,000 after buying an additional 36,685 shares in the last quarter. Gabelli Funds LLC lifted its stake in RGC Resources by 16.4% in the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock valued at $4,585,000 after buying an additional 31,651 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in RGC Resources by 6.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock valued at $7,280,000 after buying an additional 22,400 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in RGC Resources by 1.0% in the 1st 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. 35.77% of the stock is owned by hedge funds and other 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.