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 released on Thursday.

RGC Resources Price Performance

RGCO opened at $19.82 on Thursday. The company has a market capitalization of $203.41 million, a price-to-earnings ratio of 17.09 and a beta of 0.17. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26. RGC Resources has a 12-month low of $17.90 and a 12-month high of $24.20. The business’s fifty day simple moving average is $20.86 and its 200-day simple moving average is $20.78.

Institutional Investors Weigh In On RGC Resources

Large investors have recently modified their holdings of the business. Gabelli Funds LLC increased its holdings in RGC Resources by 16.4% during the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock valued at $4,585,000 after buying an additional 31,651 shares during the period. Geode Capital Management LLC boosted its position in RGC Resources by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after acquiring an additional 7,701 shares in the last quarter. Cutter & CO Brokerage Inc. increased its holdings in shares of RGC Resources by 18.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after acquiring an additional 21,489 shares during the period. State Street Corp raised its position in shares of RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after acquiring an additional 592 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of RGC Resources by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 35.77% of the company’s stock.

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.