RGC Resources (NASDAQ:RGCO) Cut to "Hold" at Wall Street Zen

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.

Wall Street Zen downgraded shares of RGC Resources (NASDAQ:RGCO - Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.

RGC Resources Stock Up 1.6%

Shares of NASDAQ:RGCO traded up $0.35 during trading on Friday, hitting $21.72. The stock had a trading volume of 18,043 shares, compared to its average volume of 20,401. RGC Resources has a 12 month low of $19.06 and a 12 month high of $24.20. The company has a market capitalization of $224.37 million, a PE ratio of 16.58 and a beta of 0.46. The firm's fifty day moving average is $21.57 and its 200 day moving average is $21.17. The company has a quick ratio of 0.66, a current ratio of 1.04 and a debt-to-equity ratio of 1.20.

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

Institutional Trading of RGC Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its stake in shares of RGC Resources by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company's stock worth $36,000 after buying an additional 1,068 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company's stock worth $63,000 after buying an additional 2,299 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of RGC Resources by 0.6% in 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 last quarter. Teton Advisors Inc. grew its stake in shares of RGC Resources by 2.1% in the 2nd quarter. Teton Advisors Inc. now owns 97,130 shares of the energy company's stock worth $2,174,000 after buying an additional 2,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of RGC Resources by 0.9% in 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 last quarter. Hedge funds and other 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.