RGC Resources (NASDAQ:RGCO) Stock Rating Upgraded by StockNews.com

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

RGC Resources Trading Up 1.4 %

NASDAQ RGCO opened at $21.00 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26. RGC Resources has a 1-year low of $18.25 and a 1-year high of $24.20. The firm’s fifty day simple moving average is $20.45 and its 200-day simple moving average is $20.76. The company has a market capitalization of $215.46 million, a PE ratio of 18.10 and a beta of 0.18.

Hedge Funds Weigh In On RGC Resources

Hedge funds have recently added to or reduced their stakes in the company. Fruth Investment Management grew its position in RGC Resources by 5.3% in the fourth quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock worth $276,000 after acquiring an additional 700 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in RGC Resources by 267.6% in the third quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock worth $332,000 after purchasing an additional 10,697 shares in the last quarter. Barclays PLC increased its position in RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after buying an additional 7,879 shares during the last quarter. Geode Capital Management LLC raised its holdings in RGC Resources by 4.1% during the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after buying an additional 7,701 shares in the last quarter. Finally, State Street Corp lifted its position in shares of RGC Resources by 0.6% in the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after buying an additional 592 shares during the last quarter. Institutional investors and hedge funds 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.