RGC Resources (NASDAQ:RGCO) Upgraded to Hold by StockNews.com

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

RGC Resources Price Performance

RGCO traded up $1.32 on Friday, reaching $22.67. 11,698 shares of the company’s stock were exchanged, compared to its average volume of 14,502. RGC Resources has a twelve month low of $15.36 and a twelve month high of $23.70. The stock has a market cap of $230.80 million, a PE 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. The stock’s fifty day moving average price is $20.87 and its 200-day moving average price is $20.55.

RGC Resources (NASDAQ:RGCO) last issued 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 company had revenue of $14.46 million during the quarter, compared to analyst estimates of $14.00 million. RGC Resources had a return on equity of 11.93% and a net margin of 15.04%. During the same period last year, the business earned $0.07 earnings per share. Sell-side analysts expect that RGC Resources will post 1.14 EPS for the current year.

Hedge Funds Weigh In On RGC Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in RGC Resources by 62.0% during the first quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock worth $81,000 after buying an additional 1,535 shares during the period. Rhumbline Advisers increased its holdings 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position 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 purchasing an additional 539 shares during the period. Burke & Herbert Bank & Trust Co. acquired a new position in RGC Resources during the second quarter worth $819,000. Finally, Renaissance Technologies LLC lifted its stake in RGC Resources by 1.4% during the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after purchasing an additional 600 shares in the last quarter. 35.77% of the stock is currently 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.