RGC Resources (NASDAQ:RGCO) Cut 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 research note issued to investors on Wednesday.

RGC Resources Stock Performance

NASDAQ RGCO opened at $21.52 on Wednesday. The stock has a market cap of $220.80 million, a PE ratio of 18.55 and a beta of 0.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.52 and a current ratio of 0.87. The firm has a 50-day moving average of $20.47 and a 200-day moving average of $20.80. RGC Resources has a 52-week low of $17.90 and a 52-week high of $24.20.

Institutional Trading of RGC Resources

Several hedge funds have recently added to or reduced their stakes in the company. Cutter & CO Brokerage Inc. increased its position in RGC Resources by 18.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock worth $3,113,000 after buying an additional 21,489 shares during the period. JPMorgan Chase & Co. grew its stake in shares of RGC Resources by 267.6% in the third quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after acquiring an additional 10,697 shares in the last quarter. Barclays PLC increased its position in RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after acquiring an additional 7,879 shares during the period. Geode Capital Management LLC raised its stake in RGC Resources by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after purchasing an additional 7,701 shares in the last quarter. Finally, Fruth Investment Management boosted its holdings in RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock valued at $295,000 after purchasing an additional 1,198 shares during the period. 35.77% of the stock is owned by institutional investors and hedge funds.

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.