RGC Resources (NASDAQ:RGCO) Downgraded to “Sell” Rating by StockNews.com

RGC Resources (NASDAQ:RGCO) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

RGC Resources Stock Performance

RGCO stock traded up $0.07 during midday trading on Wednesday, hitting $21.14. 6,895 shares of the stock traded hands, compared to its average volume of 12,772. RGC Resources has a 1-year low of $17.90 and a 1-year high of $24.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. The stock’s fifty day simple moving average is $20.45 and its 200-day simple moving average is $20.79. The firm has a market cap of $216.90 million, a P/E ratio of 18.22 and a beta of 0.18.

Institutional Investors Weigh In On RGC Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of RGC Resources by 4.1% in the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after purchasing an additional 7,701 shares during the period. Cutter & CO Brokerage Inc. lifted its stake in RGC Resources by 18.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after buying an additional 21,489 shares in the last quarter. State Street Corp boosted its holdings in RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after buying an additional 592 shares during the last quarter. Renaissance Technologies LLC increased its stake in RGC Resources by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after buying an additional 600 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in RGC Resources by 4.6% during the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after buying an additional 1,161 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.