RGC Resources (NASDAQ:RGCO) Raised to Hold at StockNews.com

StockNews.com upgraded shares of RGC Resources (NASDAQ:RGCO) from a sell rating to a hold rating in a report published on Tuesday.

RGC Resources Stock Performance

RGCO opened at $20.33 on Tuesday. The business has a fifty day simple moving average of $20.52 and a 200 day simple moving average of $20.70. The company has a market capitalization of $209.40 million, a PE ratio of 17.38 and a beta of 0.18. RGC Resources has a 1 year low of $18.29 and a 1 year high of $24.20. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. Research analysts expect that RGC Resources will post 1.23 EPS for the current year.

Hedge Funds Weigh In On RGC Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in RGC Resources by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after acquiring an additional 7,701 shares during the last quarter. State Street Corp raised its holdings in RGC Resources by 0.6% during the third 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. Barclays PLC grew its stake in shares of RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after acquiring an additional 7,879 shares in the last quarter. JPMorgan Chase & Co. grew its position in RGC Resources by 267.6% during the third quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after buying an additional 10,697 shares during the period. Finally, Cerity Partners LLC boosted its position in RGC Resources by 4.6% during the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after purchasing an additional 1,161 shares during the period. 35.77% of the stock is currently owned by institutional investors and hedge funds.

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.