RGC Resources (NASDAQ:RGCO) Lifted to Hold at StockNews.com

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

RGC Resources Stock Performance

Shares of NASDAQ RGCO opened at $19.64 on Friday. The company has a 50 day simple moving average of $20.66 and a two-hundred day simple moving average of $20.36. The stock has a market cap of $200.72 million, a price-to-earnings ratio of 15.11 and a beta of 0.15. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. RGC Resources has a 12 month low of $15.36 and a 12 month high of $23.70.

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 analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $14.46 million for 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 prior year, the firm earned $0.07 earnings per share. As a group, analysts predict that RGC Resources will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of RGC Resources by 62.0% during the 1st quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock worth $81,000 after purchasing an additional 1,535 shares during the period. Rhumbline Advisers grew its position in RGC Resources by 5.6% during the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after buying an additional 497 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in RGC Resources by 5.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock valued at $217,000 after buying an additional 539 shares in the last quarter. Burke & Herbert Bank & Trust Co. acquired a new position in shares of RGC Resources in the second quarter worth about $819,000. Finally, FCA Corp TX boosted its stake in shares of RGC Resources by 2.4% during the 4th quarter. FCA Corp TX now owns 43,213 shares of the energy company’s stock worth $879,000 after acquiring an additional 1,009 shares in the last quarter. 35.77% of the stock is currently 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.