StockNews.com Upgrades RGC Resources (NASDAQ:RGCO) to Buy

RGC Resources (NASDAQ:RGCO) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

RGC Resources Stock Up 1.2%

RGCO stock opened at $21.88 on Tuesday. RGC Resources has a fifty-two week low of $19.05 and a fifty-two week high of $24.20. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41. The stock has a market capitalization of $225.63 million, a price-to-earnings ratio of 18.70 and a beta of 0.46. The business’s fifty day moving average price is $21.28 and its two-hundred day moving average price is $20.85.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Tuesday, May 6th. The energy company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.68 by $0.06. RGC Resources had a net margin of 13.73% and a return on equity of 10.94%. The business had revenue of $36.46 million for the quarter, compared to the consensus estimate of $34.00 million. On average, equities analysts anticipate that RGC Resources will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On RGC Resources

Hedge funds have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL lifted its position in shares of RGC Resources by 2.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 415,100 shares of the energy company’s stock valued at $8,663,000 after acquiring an additional 9,400 shares during the period. Gabelli Funds LLC lifted its position in RGC Resources by 0.3% during the fourth quarter. Gabelli Funds LLC now owns 229,000 shares of the energy company’s stock worth $4,594,000 after purchasing an additional 794 shares during the period. Russell Investments Group Ltd. grew its stake in RGC Resources by 8.2% during the first quarter. Russell Investments Group Ltd. now owns 194,570 shares of the energy company’s stock worth $4,061,000 after buying an additional 14,724 shares in the last quarter. Cutter & CO Brokerage Inc. grew its stake in RGC Resources by 7.9% during the first quarter. Cutter & CO Brokerage Inc. now owns 147,854 shares of the energy company’s stock worth $3,086,000 after buying an additional 10,857 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in RGC Resources by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 120,400 shares of the energy company’s stock valued at $2,415,000 after buying an additional 3,684 shares during the period. Institutional investors own 35.77% of the company’s stock.

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.