RGC Resources (NASDAQ:RGCO) Rating Increased to Hold at Wall Street Zen

RGC Resources (NASDAQ:RGCO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings upgraded RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

RGC Resources Price Performance

Shares of NASDAQ:RGCO opened at $21.86 on Friday. The company has a market cap of $227.13 million, a PE ratio of 17.63 and a beta of 0.52. RGC Resources has a fifty-two week low of $19.50 and a fifty-two week high of $23.82. The firm has a 50-day simple moving average of $21.80 and a 200 day simple moving average of $21.79. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 1.19.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Thursday, February 5th. The energy company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The business had revenue of $30.26 million during the quarter, compared to the consensus estimate of $28.21 million. RGC Resources had a return on equity of 11.11% and a net margin of 13.11%. On average, sell-side analysts anticipate that RGC Resources will post 1.23 EPS for the current year.

Institutional Trading of RGC Resources

Several hedge funds have recently added to or reduced their stakes in RGCO. New York State Common Retirement Fund lifted its holdings in RGC Resources by 647.1% in the 3rd quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock valued at $28,000 after acquiring an additional 1,100 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of RGC Resources by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after purchasing an additional 1,068 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in RGC Resources by 80.9% during the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after purchasing an additional 812 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in RGC Resources by 45.7% during the third quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock worth $57,000 after buying an additional 800 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in RGC Resources in the second quarter worth approximately $59,000. Institutional investors own 35.77% of the company’s stock.

About RGC Resources

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.