RGC Resources (RGCO) Downgraded by Zacks Investment Research to Sell

RGC Resources (NASDAQ:RGCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “RGC Resources, Inc. has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas and Diversified Energy Company, which serves the Roanoke Valley, Southwestern Virginia and Southern West Virginia. The company’s stock will continue to be listed on the Nasdaq National Market, trading symbol RGCO. (PRESS RELEASE) “

Several other equities research analysts also recently weighed in on RGCO. Janney Montgomery Scott raised RGC Resources from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, February 6th. TheStreet downgraded RGC Resources from a “b” rating to a “c+” rating in a research report on Friday, February 2nd.

Shares of RGC Resources (NASDAQ RGCO) opened at $24.18 on Wednesday. The firm has a market capitalization of $172.94, a PE ratio of 29.13 and a beta of -0.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.78 and a current ratio of 1.22. RGC Resources has a 12-month low of $17.45 and a 12-month high of $31.99.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Monday, February 5th. The energy company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The company had revenue of $18.76 million for the quarter, compared to analyst estimates of $19.63 million. RGC Resources had a return on equity of 9.64% and a net margin of 9.73%. equities analysts anticipate that RGC Resources will post 0.84 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of RGC Resources during the 2nd quarter worth about $509,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of RGC Resources during the 2nd quarter worth about $340,000. Dimensional Fund Advisors LP boosted its stake in shares of RGC Resources by 5.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 73,057 shares of the energy company’s stock worth $2,070,000 after acquiring an additional 3,907 shares in the last quarter. TIAA CREF Investment Management LLC purchased a new stake in shares of RGC Resources during the 2nd quarter worth about $515,000. Finally, Teachers Advisors LLC purchased a new stake in shares of RGC Resources during the 2nd quarter worth about $341,000.

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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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