RGC Resources (NASDAQ:RGCO) Upgraded to “Buy” at Wall Street Zen

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

Separately, Weiss Ratings raised shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

RGC Resources Stock Performance

RGC Resources stock opened at $23.62 on Friday. The firm has a market capitalization of $245.88 million, a P/E ratio of 17.63 and a beta of 0.52. The stock has a fifty day moving average price of $23.07 and a 200 day moving average price of $22.29. RGC Resources has a 52 week low of $19.68 and a 52 week high of $26.63. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04.

RGC Resources (NASDAQ:RGCO) last issued 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 return on equity of 11.87% and a net margin of 13.01%.The firm had revenue of $45.46 million for the quarter, compared to analyst estimates of $38.20 million.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RGCO. Geneos Wealth Management Inc. boosted its holdings in RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after acquiring an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets increased its stake in RGC Resources by 80.9% during the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock worth $41,000 after acquiring an additional 812 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock worth $63,000 after purchasing an additional 2,299 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of RGC Resources in the 4th quarter worth about $103,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of RGC Resources in the 4th quarter valued at about $119,000. 35.77% of the stock is 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.