RGC Resources (NASDAQ:RGCO) Stock Rating Upgraded by StockNews.com

RGC Resources (NASDAQ:RGCO) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

RGC Resources Stock Performance

RGC Resources stock opened at $21.00 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41. RGC Resources has a 1 year low of $19.05 and a 1 year high of $24.20. The business has a 50 day moving average of $21.28 and a 200-day moving average of $20.86. The company has a market capitalization of $216.55 million, a P/E ratio of 17.95 and a beta of 0.46.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Tuesday, May 6th. The energy company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $36.46 million during the quarter, compared to the consensus estimate of $34.00 million. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. On average, equities research analysts predict that RGC Resources will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its position in shares of RGC Resources by 2.3% during the first quarter. Gamco Investors INC. ET AL now owns 415,100 shares of the energy company’s stock worth $8,663,000 after purchasing an additional 9,400 shares during the period. Gabelli Funds LLC lifted its holdings in RGC Resources by 0.3% during the fourth quarter. Gabelli Funds LLC now owns 229,000 shares of the energy company’s stock worth $4,594,000 after acquiring an additional 794 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of RGC Resources by 8.2% in the 1st quarter. Russell Investments Group Ltd. now owns 194,570 shares of the energy company’s stock worth $4,061,000 after buying an additional 14,724 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in RGC Resources by 7.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 147,854 shares of the energy company’s stock valued at $3,086,000 after acquiring an additional 10,857 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in RGC Resources by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 120,400 shares of the energy company’s stock valued at $2,415,000 after purchasing an additional 3,684 shares during the last quarter. 35.77% of the stock is owned by institutional investors.

RGC Resources Company Profile

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.