RGC Resources (NASDAQ:RGCO) Upgraded at StockNews.com

RGC Resources (NASDAQ:RGCO) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

RGC Resources Stock Up 6.2 %

Shares of RGCO stock traded up $1.32 during trading on Friday, reaching $22.67. The company’s stock had a trading volume of 11,698 shares, compared to its average volume of 14,502. RGC Resources has a 1-year low of $15.36 and a 1-year high of $23.70. The stock’s 50-day moving average price is $20.87 and its 200 day moving average price is $20.55. The company has a market capitalization of $230.80 million, a price-to-earnings ratio of 17.44 and a beta of 0.15. 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 (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). 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 during the quarter, compared to analyst estimates of $14.00 million. During the same quarter last year, the firm earned $0.07 EPS. On average, research analysts anticipate that RGC Resources will post 1.14 EPS for the current year.

Institutional Investors Weigh In On RGC Resources

A number of hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in shares of RGC Resources by 5.6% during the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $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 during the last quarter. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 600 shares during the last quarter. Teton Advisors Inc. boosted its position in shares of RGC Resources by 1.2% during the 1st quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company’s stock worth $1,761,000 after acquiring an additional 1,000 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of RGC Resources by 62.0% in 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 during the last quarter. Institutional investors and hedge funds 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.