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

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

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

RGC Resources Price Performance

Shares of RGCO stock opened at $21.87 on Friday. The stock’s fifty day moving average is $23.46 and its 200-day moving average is $22.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.69. RGC Resources has a 52 week low of $20.55 and a 52 week high of $27.99. The stock has a market capitalization of $227.60 million, a PE ratio of 16.32 and a beta of 0.51.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). RGC Resources had a return on equity of 11.85% and a net margin of 13.05%.The company had revenue of $17.11 million for the quarter, compared to analyst estimates of $18.19 million.

Institutional Trading of RGC Resources

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its position in shares of RGC Resources by 200.0% during 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 during the last quarter. BNP Paribas Financial Markets boosted its position in shares of RGC Resources by 80.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock worth $41,000 after purchasing an additional 812 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of RGC Resources by 440.4% during the second 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 acquired a new stake in shares of RGC Resources during the fourth quarter worth $103,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of RGC Resources during the fourth quarter worth $119,000. 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.