RGC Resources (NASDAQ:RGCO) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of RGC Resources (NASDAQ:RGCOGet Rating) in a research note issued on Tuesday. The firm set a “sell” rating on the energy company’s stock.

RGCO has been the topic of several other research reports. TheStreet upgraded RGC Resources from a “c+” rating to a “b-” rating in a report on Wednesday, January 19th. Zacks Investment Research lowered RGC Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 31st.

NASDAQ:RGCO opened at $20.94 on Tuesday. RGC Resources has a 1 year low of $20.25 and a 1 year high of $26.02. The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 1.22. The stock has a market cap of $176.36 million, a price-to-earnings ratio of 19.39 and a beta of -0.34. The stock has a 50-day moving average price of $21.61 and a two-hundred day moving average price of $22.09.

RGC Resources (NASDAQ:RGCOGet Rating) last issued its quarterly earnings results on Monday, February 7th. The energy company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). The firm had revenue of $23.26 million during the quarter, compared to the consensus estimate of $21.00 million. RGC Resources had a net margin of 11.36% and a return on equity of 9.00%. During the same quarter last year, the firm earned $0.58 earnings per share. Sell-side analysts forecast that RGC Resources will post 1.19 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in RGC Resources by 84.9% in the second quarter. Royal Bank of Canada now owns 1,795 shares of the energy company’s stock valued at $45,000 after buying an additional 824 shares during the period. Massmutual Trust Co. FSB ADV acquired a new position in shares of RGC Resources in the fourth quarter valued at approximately $45,000. Belpointe Asset Management LLC grew its position in shares of RGC Resources by 19.3% in the fourth quarter. Belpointe Asset Management LLC now owns 7,713 shares of the energy company’s stock valued at $177,000 after purchasing an additional 1,246 shares during the last quarter. Millennium Management LLC acquired a new position in shares of RGC Resources in the fourth quarter valued at approximately $248,000. Finally, LPL Financial LLC acquired a new position in shares of RGC Resources in the third quarter valued at approximately $245,000.

About RGC Resources (Get Rating)

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 1,157 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 6 metering stations.

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