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

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a report published on Saturday morning.

RGC Resources Stock Up 2.4 %

Shares of NASDAQ RGCO opened at $20.11 on Friday. 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 has a 12-month low of $15.36 and a 12-month high of $23.70. The company has a market capitalization of $205.52 million, a PE ratio of 15.47 and a beta of 0.15. The firm’s 50-day moving average is $20.68 and its two-hundred day moving average is $20.37.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Monday, August 5th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $14.46 million during the quarter, compared to analysts’ expectations of $14.00 million. RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. During the same quarter last year, the firm earned $0.07 EPS. Equities analysts anticipate that RGC Resources will post 1.14 EPS for the current fiscal year.

Hedge Funds Weigh In On RGC Resources

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of RGC Resources by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock valued at $8,861,000 after acquiring an additional 4,202 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of RGC Resources by 6.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 359,700 shares of the energy company’s stock valued at $7,280,000 after buying an additional 22,400 shares during the period. Gabelli Funds LLC lifted its position in RGC Resources by 16.4% during the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after acquiring an additional 31,651 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in RGC Resources by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock worth $3,674,000 after acquiring an additional 36,685 shares during the period. Finally, Teton Advisors Inc. grew its position in RGC Resources by 1.2% in the first quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company’s stock valued at $1,761,000 after acquiring an additional 1,000 shares in the last quarter. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

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.