RGC Resources (NASDAQ:RGCO) Rating Increased to Hold at StockNews.com

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

RGC Resources Stock Up 2.8 %

NASDAQ:RGCO opened at $20.95 on Wednesday. RGC Resources has a 1 year low of $17.90 and a 1 year high of $24.20. The stock has a 50-day moving average price of $20.89 and a two-hundred day moving average price of $20.77. The stock has a market cap of $214.95 million, a price-to-earnings ratio of 18.06 and a beta of 0.17. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26.

Institutional Investors Weigh In On RGC Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of RGC Resources by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of RGC Resources by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock worth $217,000 after buying an additional 539 shares in the last quarter. Barclays PLC raised its position in RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after buying an additional 7,879 shares during the last quarter. Fruth Investment Management lifted its stake in RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock valued at $295,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in RGC Resources by 4.6% during the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after acquiring an additional 1,161 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

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.