Janney Montgomery Scott Begins Coverage on RGC Resources (RGCO)

Equities research analysts at Janney Montgomery Scott assumed coverage on shares of RGC Resources (NASDAQ:RGCO) in a research note issued on Wednesday, December 20th, Marketbeat.com reports. The firm set a “neutral” rating and a $29.00 price target on the energy company’s stock. Janney Montgomery Scott’s price target points to a potential upside of 10.64% from the company’s previous close.

RGC Resources (NASDAQ RGCO) traded down $0.45 during trading hours on Wednesday, reaching $26.21. The company’s stock had a trading volume of 9,870 shares, compared to its average volume of 10,834. The company has a quick ratio of 0.48, a current ratio of 1.09 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $190.02, a price-to-earnings ratio of 30.48 and a beta of 0.08. RGC Resources has a 12-month low of $16.72 and a 12-month high of $31.99.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Wednesday, November 15th. The energy company reported $0.02 EPS for the quarter. RGC Resources had a return on equity of 10.52% and a net margin of 10.01%. The firm had revenue of $10.17 million for the quarter. equities research analysts forecast that RGC Resources will post 0.92 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. BB&T Securities LLC boosted its holdings in shares of RGC Resources by 2.4% in the 2nd quarter. BB&T Securities LLC now owns 64,800 shares of the energy company’s stock valued at $1,834,000 after purchasing an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of RGC Resources by 14.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,592 shares of the energy company’s stock valued at $588,000 after purchasing an additional 2,601 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of RGC Resources by 5.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 76,714 shares of the energy company’s stock valued at $2,192,000 after acquiring an additional 3,657 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of RGC Resources by 67.2% during the 3rd quarter. Wells Fargo & Company MN now owns 10,282 shares of the energy company’s stock valued at $293,000 after acquiring an additional 4,131 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of RGC Resources during the 2nd quarter valued at $199,000.

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About RGC Resources

RGC Resources, Inc (Resources) is an energy services company. The Company is engaged in the regulated sale and distribution of natural gas to residential, commercial and industrial customers in Roanoke, Virginia, and the surrounding localities, through its Roanoke Gas Company (Roanoke Gas) subsidiary.

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