Short Interest in RGC Resources, Inc. (NASDAQ:RGCO) Increases By 291.1%

RGC Resources, Inc. (NASDAQ:RGCOGet Rating) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 79,400 shares, an increase of 291.1% from the March 31st total of 20,300 shares. Based on an average daily volume of 7,600 shares, the short-interest ratio is presently 10.4 days. Approximately 1.0% of the company’s stock are sold short.

RGCO has been the subject of several recent analyst reports. TheStreet upgraded RGC Resources from a “c+” rating to a “b-” rating in a research note on Wednesday, January 19th. StockNews.com began coverage on RGC Resources in a research report on Wednesday. They issued a “sell” rating for the company. Finally, Zacks Investment Research downgraded shares of RGC Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, March 31st.

Shares of RGCO stock opened at $20.65 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.54 and a debt-to-equity ratio of 1.22. RGC Resources has a 12-month low of $20.25 and a 12-month high of $26.02. The stock has a market capitalization of $173.91 million, a P/E ratio of 19.12 and a beta of -0.34. The firm’s 50 day moving average is $21.53 and its 200 day moving average is $22.02.

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

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of RGC Resources by 84.9% in the second quarter. Royal Bank of Canada now owns 1,795 shares of the energy company’s stock worth $45,000 after buying an additional 824 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of RGC Resources by 26.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 20,552 shares of the energy company’s stock worth $462,000 after acquiring an additional 4,285 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of RGC Resources by 30.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 315,093 shares of the energy company’s stock worth $7,134,000 after acquiring an additional 72,912 shares during the last quarter. Geode Capital Management LLC grew its position in shares of RGC Resources by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 77,604 shares of the energy company’s stock valued at $1,757,000 after acquiring an additional 1,559 shares during the period. Finally, Morgan Stanley grew its position in shares of RGC Resources by 5.6% during the 3rd quarter. Morgan Stanley now owns 32,122 shares of the energy company’s stock valued at $722,000 after acquiring an additional 1,693 shares during the period.

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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