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

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

A number of other brokerages have also recently issued reports on RGCO. Huntington assumed coverage on shares of RGC Resources in a research note on Monday, September 14th. They issued an “outperform” rating and a $27.00 price objective on the stock. Weiss Ratings downgraded shares of RGC Resources from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.00.

RGC Resources Stock Performance

Shares of NASDAQ:RGCO opened at $22.63 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 1.19. The firm has a market cap of $235.80 million, a PE ratio of 16.89 and a beta of 0.50. The company’s 50 day moving average price is $21.72 and its two-hundred day moving average price is $22.60. RGC Resources has a 12-month low of $20.55 and a 12-month high of $27.99.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $17.11 million for the quarter, compared to the consensus estimate of $18.19 million. RGC Resources had a net margin of 13.05% and a return on equity of 11.73%.

Insider Transactions at RGC Resources

In other RGC Resources news, Director John Williamson, III bought 2,500 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were purchased at an average price of $20.94 per share, for a total transaction of $52,350.00. Following the completion of the transaction, the director directly owned 182,431 shares in the company, valued at approximately $3,820,105.14. The trade was a 1.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders bought a total of 8,330 shares of company stock valued at $175,638 in the last quarter. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RGCO. FCA Corp TX boosted its stake in shares of 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 in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of RGC Resources by 6.2% during the 2nd quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company’s stock valued at $329,000 after purchasing an additional 800 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of RGC Resources by 0.6% during the 1st 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 last quarter. Dimensional Fund Advisors LP increased its position in RGC Resources by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 126,931 shares of the energy company’s stock worth $2,799,000 after purchasing an additional 3,175 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in RGC Resources by 0.9% during the 1st 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 in the last quarter. Institutional investors own 35.77% of the company’s stock.

About RGC Resources

RGC Resources, Inc is a holding company whose principal subsidiary, Roanoke Gas Company, distributes natural gas to residential, commercial and industrial customers in and around Roanoke, Virginia. The company’s operations include the delivery of natural gas through a regulated local distribution system and related customer services.

Roanoke Gas Company has served the Roanoke Valley for more than a century, developing and maintaining the infrastructure needed to provide natural gas to communities in southwestern Virginia.