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

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

RGC Resources Stock Performance

NASDAQ RGCO traded up $0.17 during trading on Monday, hitting $21.78. The company’s stock had a trading volume of 7,002 shares, compared to its average volume of 14,543. RGC Resources has a 52 week low of $15.36 and a 52 week high of $23.70. The firm has a market cap of $221.74 million, a P/E ratio of 16.75 and a beta of 0.15. The firm has a 50 day moving average price of $20.80 and a 200 day moving average price of $20.43. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25.

RGC Resources (NASDAQ:RGCO) last announced 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). RGC Resources had a return on equity of 11.93% and a net margin of 15.04%. The company had revenue of $14.46 million for the quarter, compared to the consensus estimate of $14.00 million. During the same period last year, the firm posted $0.07 EPS. Equities research analysts forecast that RGC Resources will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RGC Resources

Several hedge funds have recently made changes to their positions in RGCO. Gabelli Funds LLC raised its holdings 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 acquiring an additional 31,651 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of RGC Resources by 1.4% during the second 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 during the period. Rhumbline Advisers increased its position 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 valued at $191,000 after purchasing an additional 497 shares during the period. Burke & Herbert Bank & Trust Co. acquired a new position in shares of RGC Resources in the second quarter valued at $819,000. Finally, Price T Rowe Associates Inc. MD lifted 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 worth $217,000 after purchasing an additional 539 shares during the period. 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.