Wall Street Zen Upgrades RGC Resources (NASDAQ:RGCO) to “Hold”

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

Separately, Weiss Ratings raised shares of RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, RGC Resources currently has a consensus rating of “Buy”.

RGC Resources Trading Up 0.8%

Shares of RGCO opened at $21.86 on Friday. The business’s 50-day moving average price is $21.80 and its 200 day moving average price is $21.79. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $227.13 million, a P/E ratio of 17.63 and a beta of 0.52. RGC Resources has a 1-year low of $19.50 and a 1-year high of $23.82.

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

Institutional Trading of RGC Resources

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

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.