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

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

Separately, Weiss Ratings upgraded RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, RGC Resources presently has an average rating of “Buy”.

RGC Resources Price Performance

RGCO stock opened at $21.86 on Friday. RGC Resources has a 1 year low of $19.50 and a 1 year high of $23.82. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.80 and a quick ratio of 0.58. The firm has a market capitalization of $227.13 million, a PE ratio of 17.63 and a beta of 0.52. The business has a 50 day simple moving average of $21.80 and a 200-day simple moving average of $21.81.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Thursday, February 5th. The energy company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The company had revenue of $30.26 million for the quarter, compared to analysts’ expectations of $28.21 million. RGC Resources had a return on equity of 11.11% and a net margin of 13.11%. Equities research analysts anticipate that RGC Resources will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RGC Resources

Hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund increased its position in shares of RGC Resources by 647.1% during the 3rd quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock worth $28,000 after purchasing an additional 1,100 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in RGC Resources by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after buying an additional 1,068 shares during the period. BNP Paribas Financial Markets increased its position in shares of 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 acquiring an additional 812 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of RGC Resources by 45.7% during the third quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after acquiring an additional 800 shares during the last quarter. Finally, Creekmur Asset Management LLC purchased 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.