RGC Resources (NASDAQ:RGCO) Receives New Coverage from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of RGC Resources (NASDAQ:RGCOGet Rating) in a research report issued on Wednesday. The firm set a “sell” rating on the energy company’s stock.

Separately, TheStreet cut RGC Resources from a “b-” rating to a “c-” rating in a research report on Thursday, May 5th.

RGC Resources stock opened at $18.02 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.80. RGC Resources has a one year low of $18.01 and a one year high of $26.02. The stock has a market capitalization of $151.76 million, a PE ratio of -7.54 and a beta of -0.28. The business’s fifty day moving average is $20.37 and its 200 day moving average is $21.46.

RGC Resources (NASDAQ:RGCOGet Rating) last released its quarterly earnings data on Thursday, May 5th. The energy company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.06). The business had revenue of $29.53 million for the quarter, compared to analysts’ expectations of $30.00 million. RGC Resources had a negative net margin of 25.31% and a positive return on equity of 9.13%. As a group, sell-side analysts expect that RGC Resources will post 1 EPS for the current fiscal year.

In related news, Director John B. Williamson III bought 3,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was purchased at an average price of $20.40 per share, for a total transaction of $61,200.00. Following the acquisition, the director now owns 146,433 shares in the company, valued at $2,987,233.20. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Williamson III acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average price of $19.81 per share, with a total value of $79,240.00. Following the acquisition, the director now owns 153,433 shares in the company, valued at $3,039,507.73. The disclosure for this purchase can be found here. Insiders have purchased a total of 16,671 shares of company stock worth $318,082 in the last three months. 6.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGCO. Royal Bank of Canada increased its position in RGC Resources by 84.9% during the 2nd quarter. Royal Bank of Canada now owns 1,795 shares of the energy company’s stock valued at $45,000 after buying an additional 824 shares in the last quarter. Geode Capital Management LLC grew its stake in RGC Resources by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 77,604 shares of the energy company’s stock valued at $1,757,000 after purchasing an additional 1,559 shares during the last quarter. Morgan Stanley grew its stake in RGC Resources by 5.6% during the 3rd quarter. Morgan Stanley now owns 32,122 shares of the energy company’s stock valued at $722,000 after purchasing an additional 1,693 shares during the last quarter. LPL Financial LLC purchased a new stake in RGC Resources during the 3rd quarter valued at about $245,000. Finally, North Star Investment Management Corp. boosted its stake in shares of RGC Resources by 0.9% in the fourth quarter. North Star Investment Management Corp. now owns 61,475 shares of the energy company’s stock worth $1,415,000 after buying an additional 525 shares during the last quarter.

About RGC Resources (Get Rating)

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 1,157 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 6 metering stations.

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