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

RGC Resources (NASDAQ:RGCO) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

RGC Resources Stock Performance

Shares of NASDAQ:RGCO opened at $19.82 on Thursday. 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 company has a market capitalization of $203.41 million, a price-to-earnings ratio of 17.09 and a beta of 0.17. The firm’s 50-day moving average is $20.86 and its 200 day moving average is $20.78.

Hedge Funds Weigh In On RGC Resources

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after purchasing an additional 497 shares during the period. Barclays PLC grew its holdings in shares of RGC Resources by 257.3% in the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after purchasing an additional 7,879 shares during the last quarter. Fruth Investment Management increased its stake in RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after buying an additional 1,198 shares during the period. Cerity Partners LLC lifted its holdings in RGC Resources by 4.6% during 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 in the last quarter. Finally, 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 valued at $888,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

About RGC Resources

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.