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

StockNews.com lowered shares of RGC Resources (NASDAQ:RGCO) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

RGC Resources Stock Up 2.3 %

Shares of NASDAQ:RGCO opened at $22.13 on Monday. RGC Resources has a 1 year low of $15.36 and a 1 year high of $23.70. The business has a 50 day simple moving average of $20.90 and a two-hundred day simple moving average of $20.47. The firm has a market capitalization of $226.17 million, a PE ratio of 17.02 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 announced its earnings results on Monday, August 5th. The energy company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. The business had revenue of $14.46 million for the quarter, compared to analysts’ expectations of $14.00 million. During the same quarter last year, the firm earned $0.07 EPS. On average, equities analysts predict that RGC Resources will post 1.14 EPS for the current year.

Institutional Trading of RGC Resources

Several institutional investors and hedge funds have recently modified their holdings of RGCO. Burke & Herbert Bank & Trust Co. bought a new stake in shares of RGC Resources during the second quarter valued at approximately $819,000. Russell Investments Group Ltd. raised its stake in shares of RGC Resources by 25.3% during the first quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock valued at $3,674,000 after acquiring an additional 36,685 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of RGC Resources by 16.4% during the second 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. Gamco Investors INC. ET AL raised its stake in shares of RGC Resources by 6.6% during the first quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock valued at $7,280,000 after acquiring an additional 22,400 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in RGC Resources by 1.0% in the first quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after buying an additional 4,202 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.