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

Key Points

• Wall Street Zen downgraded RGC Resources from “Buy” to “Hold,” while Weiss Ratings upgraded it to “Buy (B).” MarketBeat’s overall analyst consensus remains “Buy,” based on one analyst rating.
• RGC Resources reported quarterly EPS of $0.05, missing the $0.06 consensus estimate, while revenue of $17.11 million fell short of the $18.19 million expectation.
• RGCO shares opened at $21.87, with a $227.67 million market capitalization and a 12-month trading range of $20.55 to $27.99. Institutional investors own approximately 35.77% of the company.

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

Separately, Weiss Ratings raised RGC Resources from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, RGC Resources currently has an average rating of "Buy".

RGC Resources Stock Performance

Shares of RGCO stock opened at $21.87 on Friday. The stock has a market capitalization of $227.67 million, a P/E ratio of 16.32 and a beta of 0.51. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The firm's 50 day moving average is $23.46 and its 200 day moving average is $22.59. RGC Resources has a 12 month low of $20.55 and a 12 month high of $27.99.

RGC Resources (NASDAQ:RGCO - Get Free Report) last released its quarterly earnings data 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). RGC Resources had a net margin of 13.05% and a return on equity of 11.85%. The business had revenue of $17.11 million during the quarter, compared to analysts' expectations of $18.19 million.

Institutional Investors Weigh In On RGC Resources

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in RGC Resources by 0.9% during the second quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company's stock worth $4,441,000 after purchasing an additional 1,701 shares during the last quarter. Ameriprise Financial Inc. boosted its position in RGC Resources by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company's stock valued at $9,028,000 after buying an additional 2,486 shares during the period. Tower Research Capital LLC TRC grew its position in RGC Resources by 440.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company's stock worth $63,000 after acquiring an additional 2,299 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company's stock worth $36,000 after purchasing an additional 1,068 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in RGC Resources by 24.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company's stock worth $284,000 after acquiring an additional 2,502 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 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.

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