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

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

Separately, Weiss Ratings raised shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, RGC Resources presently has an average rating of “Buy”.

RGC Resources Stock Performance

Shares of RGC Resources stock opened at $23.94 on Friday. The firm has a market capitalization of $249.22 million, a P/E ratio of 17.87 and a beta of 0.52. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $22.74 and a 200 day moving average price of $22.15. RGC Resources has a 52 week low of $19.68 and a 52 week high of $24.50.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. RGC Resources had a net margin of 13.01% and a return on equity of 11.87%. The company had revenue of $45.46 million during the quarter, compared to analyst estimates of $38.20 million.

Institutional Investors Weigh In On RGC Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of RGC Resources by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock worth $9,922,000 after purchasing an additional 2,678 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of RGC Resources by 0.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 416,900 shares of the energy company’s stock worth $9,193,000 after purchasing an additional 3,600 shares during the period. Ameriprise Financial Inc. grew its stake in shares of RGC Resources by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after purchasing an additional 2,486 shares during the period. Russell Investments Group Ltd. grew its stake in shares of RGC Resources by 23.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock worth $5,236,000 after purchasing an additional 43,900 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of RGC Resources by 0.6% during the 1st quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock worth $5,078,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds 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.