RGC Resources (NASDAQ:RGCO) Downgraded by Wall Street Zen to "Hold"

Key Points

• RGC Resources was downgraded from a "buy" rating to a "hold" rating by Wall Street Zen in a recent research report.
• The company reported earnings of $0.05 EPS for the last quarter, exceeding analysts' expectations by $0.03.
• RGC Resources has a market capitalization of $221.27 million and a current stock price of $21.42.

RGC Resources (NASDAQ:RGCO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

RGC Resources Stock Performance

RGCO opened at $21.42 on Friday. The firm has a market capitalization of $221.27 million, a P/E ratio of 16.35 and a beta of 0.46. The stock's 50 day moving average price is $21.52 and its two-hundred day moving average price is $21.17. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 1.20. RGC Resources has a 12-month low of $19.06 and a 12-month high of $24.20.

RGC Resources (NASDAQ:RGCO - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The energy company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. RGC Resources had a return on equity of 12.01% and a net margin of 14.48%. The company had revenue of $17.27 million during the quarter, compared to the consensus estimate of $15.00 million. On average, equities analysts forecast that RGC Resources will post 1.23 earnings per share for the current year.

Institutional Trading of RGC Resources

A number of hedge funds have recently modified their holdings of RGCO. Gamco Investors INC. ET AL lifted its position in shares of RGC Resources by 2.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 415,100 shares of the energy company's stock worth $8,663,000 after buying an additional 9,400 shares during the period. Ameriprise Financial Inc. lifted its position in shares of RGC Resources by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company's stock worth $9,028,000 after buying an additional 2,486 shares during the period. Geode Capital Management LLC lifted its position in shares of RGC Resources by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company's stock worth $4,441,000 after buying an additional 1,701 shares during the period. Russell Investments Group Ltd. lifted its position in shares of RGC Resources by 8.2% during the 1st quarter. Russell Investments Group Ltd. now owns 194,570 shares of the energy company's stock worth $4,061,000 after buying an additional 14,724 shares during the period. Finally, Prospera Financial Services Inc bought a new position in shares of RGC Resources during the 2nd quarter worth approximately $3,544,000. 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.

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