RGC Resources (RGCO) Coverage Initiated at Janney Montgomery Scott

Janney Montgomery Scott initiated coverage on shares of RGC Resources (NASDAQ:RGCO) in a research report issued on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating and a $29.00 price target on the energy company’s stock. Janney Montgomery Scott’s price target indicates a potential upside of 2.87% from the stock’s previous close.

RGC Resources (NASDAQ RGCO) traded up $0.05 during trading on Wednesday, reaching $28.19. 2,656 shares of the company’s stock traded hands, compared to its average volume of 15,492. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.48 and a current ratio of 1.09. The firm has a market capitalization of $204.38, a price-to-earnings ratio of 33.85 and a beta of 0.08. RGC Resources has a 12-month low of $16.53 and a 12-month high of $31.99.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Wednesday, November 15th. The energy company reported $0.02 earnings per share (EPS) for the quarter. RGC Resources had a net margin of 10.01% and a return on equity of 10.52%. The firm had revenue of $10.17 million for the quarter.

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company acquired a new stake in shares of RGC Resources during the 2nd quarter valued at $199,000. New York State Common Retirement Fund acquired a new stake in shares of RGC Resources during the 2nd quarter valued at $201,000. Wells Fargo & Company MN boosted its stake in shares of RGC Resources by 67.2% during the 3rd quarter. Wells Fargo & Company MN now owns 10,282 shares of the energy company’s stock valued at $293,000 after buying an additional 4,131 shares during the period. California State Teachers Retirement System acquired a new stake in shares of RGC Resources during the 2nd quarter valued at $334,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of RGC Resources during the 2nd quarter valued at $340,000.

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RGC Resources Company Profile

RGC Resources, Inc (Resources) is an energy services company. The Company is engaged in the regulated sale and distribution of natural gas to residential, commercial and industrial customers in Roanoke, Virginia, and the surrounding localities, through its Roanoke Gas Company (Roanoke Gas) subsidiary.

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