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

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

Separately, Weiss Ratings upgraded 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, According to MarketBeat, the company presently has a consensus rating of “Buy”.

RGC Resources Stock Performance

Shares of RGCO opened at $22.15 on Friday. RGC Resources has a 52-week low of $19.68 and a 52-week high of $24.50. The stock has a market cap of $230.58 million, a PE ratio of 16.53 and a beta of 0.52. The firm’s fifty day moving average is $22.26 and its two-hundred day moving average is $21.91. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 1.04.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Gabelli Funds LLC grew its holdings in shares of RGC Resources by 0.6% in the first quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock valued at $5,078,000 after purchasing an additional 1,300 shares during the period. Gamco Investors INC. ET AL raised its stake in RGC Resources by 0.9% during the first 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. FCA Corp TX boosted its holdings in RGC Resources by 1.9% in the 1st quarter. FCA Corp TX now owns 42,773 shares of the energy company’s stock valued at $943,000 after purchasing an additional 795 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in RGC Resources by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 126,931 shares of the energy company’s stock valued at $2,799,000 after purchasing an additional 3,175 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of RGC Resources in the 1st quarter valued at approximately $201,000. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Company Profile

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.