RGC Resources (NASDAQ:RGCO) Upgraded by StockNews.com to “Hold” Rating

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

RGC Resources Stock Down 0.5 %

Shares of RGC Resources stock traded down $0.10 during trading hours on Friday, hitting $20.80. 3,911 shares of the company’s stock traded hands, compared to its average volume of 13,404. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25. The stock has a 50 day simple moving average of $21.04 and a 200-day simple moving average of $20.76. The company has a market cap of $212.56 million, a PE ratio of 17.93 and a beta of 0.17. RGC Resources has a twelve month low of $17.51 and a twelve month high of $24.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in RGC Resources by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after purchasing an additional 4,202 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of RGC Resources by 16.4% during the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after buying an additional 31,651 shares during the period. Geode Capital Management LLC grew its holdings in RGC Resources by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after buying an additional 7,701 shares in the last quarter. Cutter & CO Brokerage Inc. increased its position in RGC Resources by 18.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after acquiring an additional 21,489 shares during the period. Finally, State Street Corp increased its position in RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after acquiring an additional 592 shares during the period. Institutional investors and hedge funds own 35.77% of the company’s stock.

About RGC Resources

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.