RGC Resources (NASDAQ:RGCO) Downgraded by Wall Street Zen to Sell

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

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of RGC Resources in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, RGC Resources presently has an average rating of “Hold”.

RGC Resources Stock Down 2.8%

RGCO stock opened at $21.85 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average of $21.85 and a two-hundred day moving average of $21.75. RGC Resources has a 12 month low of $19.50 and a 12 month high of $23.82. The company has a market cap of $226.15 million, a price-to-earnings ratio of 17.62 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Monday, February 9th. The energy company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). The company had revenue of $30.26 million for the quarter, compared to analyst estimates of $28.21 million. RGC Resources had a return on equity of 11.13% and a net margin of 13.11%. As a group, analysts forecast that RGC Resources will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RGC Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc purchased a new stake in RGC Resources in the 2nd quarter valued at about $3,544,000. Los Angeles Capital Management LLC purchased a new position in RGC Resources during the second quarter worth about $381,000. Creekmur Asset Management LLC acquired a new stake in shares of RGC Resources during the second quarter valued at about $59,000. New York State Common Retirement Fund raised its stake in shares of 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 period. Finally, Geneos Wealth Management Inc. lifted 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 acquiring an additional 1,068 shares during the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

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.