RGC Resources (NASDAQ:RGCO) Rating Lowered to Sell at StockNews.com

RGC Resources (NASDAQ:RGCO) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

RGC Resources Price Performance

NASDAQ RGCO opened at $21.52 on Wednesday. The firm’s 50 day moving average is $20.47 and its 200-day moving average is $20.80. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $220.80 million, a PE ratio of 18.55 and a beta of 0.18. RGC Resources has a 12-month low of $17.90 and a 12-month high of $24.20.

Hedge Funds Weigh In On RGC Resources

Several hedge funds have recently modified their holdings of RGCO. Barclays PLC raised its holdings in RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after acquiring an additional 7,879 shares in the last quarter. Fruth Investment Management raised its stake in shares of RGC Resources by 5.3% during the 4th quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock worth $276,000 after purchasing an additional 700 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of RGC Resources by 267.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock worth $332,000 after purchasing an additional 10,697 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of RGC Resources by 4.6% in the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after buying an additional 1,161 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of RGC Resources by 1.4% in the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock valued at $888,000 after buying an additional 600 shares in 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.