RGC Resources (NASDAQ:RGCO) Downgraded by TheStreet

TheStreet lowered shares of RGC Resources (NASDAQ:RGCO) from a b- rating to a c+ rating in a research report released on Thursday, TheStreetRatingsTable reports.

Separately, Zacks Investment Research lowered shares of RGC Resources from a hold rating to a strong sell rating in a research report on Thursday, September 2nd.

Shares of RGCO opened at $22.65 on Thursday. The company has a 50-day simple moving average of $24.35 and a 200-day simple moving average of $23.53. The firm has a market capitalization of $189.24 million, a P/E ratio of 19.03 and a beta of -0.50. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.44 and a current ratio of 0.69. RGC Resources has a 52 week low of $21.32 and a 52 week high of $27.40.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Wednesday, August 4th. The energy company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. RGC Resources had a net margin of 13.65% and a return on equity of 10.35%. The firm had revenue of $14.05 million during the quarter, compared to analyst estimates of $11.00 million. As a group, equities analysts forecast that RGC Resources will post 1.12 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in RGC Resources by 84.9% during the second quarter. Royal Bank of Canada now owns 1,795 shares of the energy company’s stock worth $45,000 after buying an additional 824 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in RGC Resources by 66.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,061 shares of the energy company’s stock worth $46,000 after buying an additional 824 shares during the last quarter. Selective Wealth Management Inc. grew its stake in RGC Resources by 22.5% during the second quarter. Selective Wealth Management Inc. now owns 4,900 shares of the energy company’s stock worth $124,000 after buying an additional 900 shares during the last quarter. Barclays PLC grew its stake in RGC Resources by 159.0% during the first quarter. Barclays PLC now owns 6,370 shares of the energy company’s stock worth $141,000 after buying an additional 3,911 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new stake in RGC Resources during the second quarter worth about $155,000.

About RGC Resources

RGC Resources, Inc operates as a holding company. It engages in the distribution and sale of natural gas to residential, commercial and industrial customers in Virginia through its operating subsidiaries. The company was founded on July 31, 1998 and is headquartered in Roanoke, VA.

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