RGC Resources (NASDAQ:RGCO) Stock Rating Raised to “Hold” at Wall Street Zen

RGC Resources (NASDAQ:RGCO) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently issued reports on RGCO. Weiss Ratings downgraded shares of RGC Resources from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Huntington started coverage on RGC Resources in a report on Monday, September 14th. They set an “outperform” rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat, RGC Resources has a consensus rating of “Buy” and a consensus target price of $27.00.

RGC Resources Price Performance

RGCO stock opened at $22.63 on Friday. The company has a market capitalization of $235.80 million, a PE ratio of 16.89 and a beta of 0.50. The stock’s 50 day moving average is $21.72 and its two-hundred day moving average is $22.60. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 1.19. RGC Resources has a 52-week low of $20.55 and a 52-week high of $27.99.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). RGC Resources had a return on equity of 11.73% and a net margin of 13.05%. The firm had revenue of $17.11 million for the quarter, compared to the consensus estimate of $18.19 million.

Insider Transactions at RGC Resources

In other RGC Resources news, Director John Williamson, III bought 2,500 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $20.94 per share, with a total value of $52,350.00. Following the completion of the acquisition, the director owned 182,431 shares of the company’s stock, valued at $3,820,105.14. This trade represents a 1.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 8,330 shares of company stock valued at $175,638. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On RGC Resources

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in RGC Resources during the 2nd quarter worth about $10,213,000. Gamco Investors INC. ET AL raised its stake in shares of RGC Resources by 0.9% in the first quarter. Gamco Investors INC. ET AL now owns 416,900 shares of the energy company’s stock worth $9,193,000 after purchasing an additional 3,600 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of RGC Resources by 0.6% during the first quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock valued at $5,078,000 after buying an additional 1,300 shares during the last quarter. Ancora Advisors LLC purchased a new stake in shares of RGC Resources during the 2nd quarter worth approximately $3,272,000. Finally, Dimensional Fund Advisors LP boosted its position in RGC Resources by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 126,931 shares of the energy company’s stock worth $2,799,000 after purchasing an additional 3,175 shares during the period. Institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

RGC Resources, Inc is a holding company whose principal subsidiary, Roanoke Gas Company, distributes natural gas to residential, commercial and industrial customers in and around Roanoke, Virginia. The company’s operations include the delivery of natural gas through a regulated local distribution system and related customer services.

Roanoke Gas Company has served the Roanoke Valley for more than a century, developing and maintaining the infrastructure needed to provide natural gas to communities in southwestern Virginia.