RGC Resources (NASDAQ:RGCO) Rating Lowered to Sell at Wall Street Zen

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

A number of other research analysts have also recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of RGC Resources in a research note on Friday, August 7th. Huntington started coverage on RGC Resources in a research note on Monday, September 14th. They issued an “outperform” rating and a $27.00 target price for the company. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $27.00.

RGC Resources Stock Performance

Shares of RGCO stock opened at $21.28 on Friday. The company’s fifty day simple moving average is $21.79 and its 200-day simple moving average is $22.55. RGC Resources has a 52 week low of $20.55 and a 52 week high of $27.99. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 1.19. The company has a market cap of $221.74 million, a PE ratio of 15.88 and a beta of 0.52.

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

Insider Activity at RGC Resources

In other news, Director John Williamson, III bought 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The stock was acquired at an average cost of $20.94 per share, for a total transaction of $52,350.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 8,334 shares of company stock worth $175,772 over the last 90 days. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On RGC Resources

A number of large investors have recently added to or reduced their stakes in RGCO. FCA Corp TX increased its position in shares of RGC Resources by 1.9% during the first quarter. FCA Corp TX now owns 42,773 shares of the energy company’s stock worth $943,000 after acquiring an additional 795 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of RGC Resources by 6.2% in the second quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company’s stock worth $329,000 after acquiring an additional 800 shares in the last quarter. Gabelli Funds LLC boosted its holdings in RGC Resources by 0.6% in the first quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock valued at $5,078,000 after purchasing an additional 1,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in RGC Resources by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 126,931 shares of the energy company’s stock valued at $2,799,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in 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 valued at $9,193,000 after purchasing an additional 3,600 shares during the last quarter. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Company Profile

RGC Resources, Inc is a holding company whose principal subsidiary, Roanoke Gas Company, provides regulated natural gas distribution services in southwestern Virginia. The company delivers natural gas to residential, commercial and industrial customers through a local distribution network.

Roanoke Gas serves communities in and around the Roanoke Valley, including the cities of Roanoke, Salem and Vinton, as well as portions of surrounding counties. Its activities include operating and maintaining natural gas pipelines, providing customer connections and delivering gas for heating, water heating, cooking and other commercial and industrial uses.

RGC Resources traces its operating history to Roanoke Gas Company, which was established in the early twentieth century.