Weiss Ratings Reaffirms Buy (B-) Rating for RGC Resources (NASDAQ:RGCO)

RGC Resources (NASDAQ:RGCO)‘s stock had its “buy (b-)” rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, RGC Resources has a consensus rating of “Buy”.

RGC Resources Price Performance

Shares of RGCO stock opened at $21.97 on Wednesday. The stock has a 50-day moving average price of $22.01 and a 200 day moving average price of $21.57. The company has a quick ratio of 0.66, a current ratio of 1.04 and a debt-to-equity ratio of 1.20. The firm has a market cap of $226.86 million, a price-to-earnings ratio of 16.77 and a beta of 0.49. RGC Resources has a 12 month low of $19.06 and a 12 month high of $24.20.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Monday, August 11th. The energy company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $17.27 million during the quarter, compared to analyst estimates of $15.00 million. RGC Resources had a return on equity of 12.01% and a net margin of 14.48%. Research analysts expect that RGC Resources will post 1.23 EPS for the current year.

Institutional Investors Weigh In On RGC Resources

Institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its stake in RGC Resources by 200.0% in the 2nd 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 in the last quarter. Creekmur Asset Management LLC bought a new stake in RGC Resources in the 2nd quarter valued at approximately $59,000. Tower Research Capital LLC TRC lifted its stake in 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 valued at $63,000 after acquiring an additional 2,299 shares in the last quarter. GAMMA Investing LLC lifted its stake in RGC Resources by 5,110.7% in the 1st quarter. GAMMA Investing LLC now owns 7,764 shares of the energy company’s stock valued at $162,000 after acquiring an additional 7,615 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of RGC Resources by 5.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 12,654 shares of the energy company’s stock worth $283,000 after purchasing an additional 668 shares during the last quarter. 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.