RGC Resources (NASDAQ:RGCO) Stock Rating Lowered by Wall Street Zen

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

RGC Resources Price Performance

RGCO opened at $23.28 on Friday. RGC Resources has a 1 year low of $19.05 and a 1 year high of $24.20. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.57 and a quick ratio of 0.48. The company has a market capitalization of $240.02 million, a price-to-earnings ratio of 18.19 and a beta of 0.43. The firm's fifty day moving average price is $21.11 and its two-hundred day moving average price is $20.84.

RGC Resources (NASDAQ:RGCO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. RGC Resources had a net margin of 14.50% and a return on equity of 11.86%. The business had revenue of $36.46 million for the quarter, compared to analysts' expectations of $34.00 million. As a group, analysts anticipate that RGC Resources will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of RGC Resources

A number of hedge funds have recently bought and sold shares of RGCO. Price T Rowe Associates Inc. MD increased its position in shares of RGC Resources by 6.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,454 shares of the energy company's stock valued at $230,000 after purchasing an additional 680 shares during the last quarter. Gabelli Funds LLC grew its position in RGC Resources by 0.3% during the fourth quarter. Gabelli Funds LLC now owns 229,000 shares of the energy company's stock valued at $4,594,000 after buying an additional 794 shares during the period. Teton Advisors Inc. increased its holdings in RGC Resources by 0.8% during the fourth quarter. Teton Advisors Inc. now owns 95,130 shares of the energy company's stock worth $1,908,000 after buying an additional 800 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in RGC Resources by 293.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company's stock worth $26,000 after buying an additional 951 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in RGC Resources by 12.2% in the fourth quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company's stock worth $195,000 after acquiring an additional 1,055 shares during the period. 35.77% of the stock is currently owned by institutional investors.

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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