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

RGC Resources (NASDAQ:RGCO) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RGC Resources in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, RGC Resources currently has an average rating of “Hold”.

RGC Resources Stock Performance

RGCO stock opened at $21.85 on Friday. The stock has a market capitalization of $226.15 million, a PE ratio of 17.62 and a beta of 0.52. The stock’s 50 day simple moving average is $21.85 and its 200 day simple moving average is $21.76. RGC Resources has a 12-month low of $19.50 and a 12-month high of $23.82. The company has a current ratio of 1.03, a quick ratio of 0.59 and a debt-to-equity ratio of 1.28.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Thursday, February 5th. The energy company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). RGC Resources had a net margin of 13.11% and a return on equity of 11.13%. The business had revenue of $30.26 million for the quarter, compared to the consensus estimate of $28.21 million. As a group, research analysts forecast that RGC Resources will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RGC Resources

A number of large investors have recently made changes to their positions in the company. New York State Common Retirement Fund boosted its holdings in shares of RGC Resources by 647.1% in the third quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock valued at $28,000 after purchasing an additional 1,100 shares during the period. Geneos Wealth Management Inc. increased its holdings in RGC Resources by 200.0% during the 2nd 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 period. BNP Paribas Financial Markets raised its position in RGC Resources by 80.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after purchasing an additional 812 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of RGC Resources by 45.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock worth $57,000 after buying an additional 800 shares during the period. Finally, Creekmur Asset Management LLC bought a new position in shares of RGC Resources during the 2nd quarter worth $59,000. 35.77% of the stock is owned by hedge funds and other institutional investors.

RGC Resources Company Profile

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.