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

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

RGC Resources Stock Performance

NASDAQ:RGCO opened at $22.67 on Friday. The company has a market cap of $231.69 million, a P/E ratio of 17.44 and a beta of 0.15. The firm’s 50 day moving average is $20.89 and its two-hundred day moving average is $20.56. RGC Resources has a fifty-two week low of $15.36 and a fifty-two week high of $23.70. 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 (NASDAQ:RGCO) last issued its earnings results on Monday, August 5th. The energy company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $14.46 million during the quarter, compared to analyst estimates 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 previous year, the business posted $0.07 EPS. Analysts expect that RGC Resources will post 1.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of RGC Resources by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock worth $217,000 after purchasing an additional 539 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of 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. Teton Advisors Inc. grew its holdings in RGC Resources by 1.2% during the 1st quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company’s stock valued at $1,761,000 after purchasing an additional 1,000 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of RGC Resources by 62.0% during 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 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.