StockNews.com Lowers RGC Resources (NASDAQ:RGCO) to Sell

StockNews.com lowered shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research report released on Monday.

RGC Resources Stock Up 0.8 %

RGCO opened at $21.78 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.07 and a quick ratio of 0.69. The business has a 50 day simple moving average of $20.80 and a 200-day simple moving average of $20.43. The stock has a market capitalization of $221.74 million, a P/E ratio of 16.75 and a beta of 0.15. 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 quarterly earnings results on Monday, August 5th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business 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 period in the prior year, the business earned $0.07 earnings per share. On average, equities analysts anticipate that RGC Resources will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of RGC Resources

Several hedge funds have recently modified their holdings of the business. Gabelli Funds LLC increased its stake in RGC Resources by 16.4% in the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock valued at $4,585,000 after purchasing an additional 31,651 shares in the last quarter. Renaissance Technologies LLC increased its stake in RGC Resources by 1.4% in the 2nd 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 in the last quarter. Rhumbline Advisers increased its stake in RGC Resources by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares in the last quarter. Burke & Herbert Bank & Trust Co. purchased a new position in RGC Resources in the 2nd quarter valued at approximately $819,000. Finally, Price T Rowe Associates Inc. MD increased its stake in RGC Resources by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock valued at $217,000 after purchasing an additional 539 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.