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

RGC Resources logo with Oils/Energy background

RGC Resources (NASDAQ:RGCO - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a report issued on Wednesday.

RGC Resources Trading Down 1.2 %

Shares of NASDAQ RGCO traded down $0.25 during midday trading on Wednesday, reaching $21.27. 16,496 shares of the stock were exchanged, compared to its average volume of 11,536. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $218.23 million, a P/E ratio of 18.34 and a beta of 0.18. The stock has a 50 day moving average price of $20.47 and a 200-day moving average price of $20.78. RGC Resources has a 52-week low of $17.90 and a 52-week high of $24.20.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Barclays PLC raised its stake 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 purchasing an additional 7,879 shares during the period. 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 buying an additional 1,198 shares during the period. 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 valued at $332,000 after acquiring an additional 10,697 shares during the last quarter. Cerity Partners LLC grew 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 acquiring an additional 1,161 shares during the period. Finally, Renaissance Technologies LLC increased its stake in RGC Resources by 1.4% during the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company's stock worth $888,000 after acquiring an additional 600 shares during the last quarter. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

About RGC Resources

(Get Free Report)

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.

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