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 report released on Saturday.

RGC Resources Stock Down 0.7 %

Shares of RGC Resources stock opened at $19.30 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.07 and a quick ratio of 0.69. RGC Resources has a 1-year low of $15.36 and a 1-year high of $23.70. The business has a 50-day moving average of $20.66 and a 200-day moving average of $20.34. The company has a market capitalization of $197.25 million, a PE ratio of 14.85 and a beta of 0.15.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data 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 business had revenue of $14.46 million for the quarter, compared to analysts’ expectations of $14.00 million. During the same quarter in the prior year, the firm 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

Several hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC lifted its position in shares of RGC Resources by 14.3% during the first quarter. Gabelli Funds LLC now owns 192,555 shares of the energy company’s stock worth $3,897,000 after purchasing an additional 24,055 shares during the last quarter. Burke & Herbert Bank & Trust Co. acquired a new position in shares of RGC Resources in the 2nd quarter worth approximately $819,000. Russell Investments Group Ltd. increased its holdings in shares of 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 acquiring an additional 36,685 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 valued at $81,000 after acquiring an additional 1,535 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in RGC Resources by 1.0% during the first quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after purchasing an additional 4,202 shares during 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.