StockNews.com Lowers 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.

RGC Resources Stock Performance

RGCO opened at $21.63 on Monday. RGC Resources has a 12-month low of $15.36 and a 12-month high of $23.70. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $220.22 million, a PE ratio of 16.64 and a beta of 0.15. The firm has a 50 day moving average of $20.88 and a two-hundred day moving average of $20.46.

RGC Resources (NASDAQ:RGCO) last posted its quarterly 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 business had revenue of $14.46 million for the quarter, compared to analysts’ expectations of $14.00 million. During the same period in the prior year, the business posted $0.07 earnings per share. On average, analysts anticipate that RGC Resources will post 1.14 EPS for the current year.

Hedge Funds Weigh In On RGC Resources

Several institutional investors have recently made changes to their positions in the company. Gabelli Funds LLC increased its holdings in shares of RGC Resources by 16.4% during the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock valued at $4,585,000 after purchasing an additional 31,651 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 600 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of RGC Resources by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares in the last quarter. Burke & Herbert Bank & Trust Co. purchased a new position in shares of RGC Resources during the 2nd quarter valued at approximately $819,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of RGC Resources by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock valued at $217,000 after purchasing an additional 539 shares in the last quarter. 35.77% of the stock is owned by hedge funds and other institutional investors.

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.