RGC Resources (NASDAQ:RGCO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $30.00 price objective on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.98% from the company’s previous close.
According to Zacks, “RGC Resources, Inc. has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas and Diversified Energy Company, which serves the Roanoke Valley, Southwestern Virginia and Southern West Virginia. The company’s stock will continue to be listed on the Nasdaq National Market, trading symbol RGCO. (PRESS RELEASE) “
Separately, ValuEngine cut RGC Resources from a “buy” rating to a “hold” rating in a report on Tuesday, January 21st.
NASDAQ RGCO opened at $26.32 on Thursday. The stock has a market cap of $206.79 million, a PE ratio of 20.72 and a beta of -0.22. RGC Resources has a fifty-two week low of $24.95 and a fifty-two week high of $31.00. The business has a 50 day moving average price of $26.79 and a two-hundred day moving average price of $28.24. The company has a quick ratio of 0.81, a current ratio of 1.21 and a debt-to-equity ratio of 1.32.
RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Friday, February 7th. The energy company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.17. The firm had revenue of $19.79 million during the quarter, compared to analysts’ expectations of $22.00 million. RGC Resources had a return on equity of 12.11% and a net margin of 15.42%. Sell-side analysts anticipate that RGC Resources will post 1.13 EPS for the current fiscal year.
In other RGC Resources news, CEO Paul W. Nester bought 1,100 shares of RGC Resources stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $25.56 per share, for a total transaction of $28,116.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders acquired 1,321 shares of company stock valued at $34,268. 7.20% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. boosted its stake in shares of RGC Resources by 47.5% during the 4th quarter. Citigroup Inc. now owns 1,507 shares of the energy company’s stock valued at $43,000 after buying an additional 485 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of RGC Resources by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,360 shares of the energy company’s stock valued at $525,000 after buying an additional 747 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of RGC Resources by 8.8% during the 3rd quarter. Rhumbline Advisers now owns 11,885 shares of the energy company’s stock valued at $348,000 after buying an additional 964 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of RGC Resources by 13.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,167 shares of the energy company’s stock valued at $501,000 after buying an additional 2,100 shares during the last quarter. Finally, Trust Co. of Virginia VA boosted its stake in shares of RGC Resources by 4.8% during the 4th quarter. Trust Co. of Virginia VA now owns 56,512 shares of the energy company’s stock valued at $1,615,000 after buying an additional 2,599 shares during the last quarter.
RGC Resources Company Profile
RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.
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