StockNews.com Downgrades RGC Resources (NASDAQ:RGCO) to Sell

RGC Resources (NASDAQ:RGCO) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

RGC Resources Price Performance

NASDAQ:RGCO traded up $0.07 during trading hours on Wednesday, reaching $21.14. The stock had a trading volume of 6,895 shares, compared to its average volume of 12,772. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.52 and a current ratio of 0.87. The stock has a market capitalization of $216.90 million, a PE ratio of 18.22 and a beta of 0.18. RGC Resources has a 52 week low of $17.90 and a 52 week high of $24.20. The company has a 50 day moving average price of $20.45 and a two-hundred day moving average price of $20.79.

Hedge Funds Weigh In On RGC Resources

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in RGC Resources by 1.4% in the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after buying an additional 600 shares in the last quarter. Fruth Investment Management raised its position in shares of RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after acquiring an additional 1,198 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its stake in shares of RGC Resources by 18.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock worth $3,113,000 after purchasing an additional 21,489 shares during the last quarter. Cerity Partners LLC boosted its position in RGC Resources by 4.6% during the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after purchasing an additional 1,161 shares in the last quarter. Finally, State Street Corp grew its stake in RGC Resources by 0.6% in the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after purchasing an additional 592 shares during the last quarter. Hedge funds and other institutional investors 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.