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

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

RGC Resources Price Performance

Shares of RGCO opened at $20.26 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. RGC Resources has a 1-year low of $17.90 and a 1-year high of $24.20. The stock has a market cap of $207.93 million, a PE ratio of 17.47 and a beta of 0.17. The firm has a fifty day moving average price of $20.83 and a 200 day moving average price of $20.77.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of RGC Resources by 5.6% during the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after acquiring an additional 497 shares during the last quarter. Barclays PLC raised its position in RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after purchasing an additional 7,879 shares during the last quarter. Fruth Investment Management boosted its stake in RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after purchasing an additional 1,198 shares during the period. Cerity Partners LLC grew its position in RGC Resources by 4.6% during the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after purchasing an additional 1,161 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in RGC Resources by 1.4% in the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock valued at $888,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds 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.