RGC Resources (NASDAQ:RGCO) Stock Price Crosses Above Two Hundred Day Moving Average of $19.23

RGC Resources, Inc. (NASDAQ:RGCO)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.23 and traded as high as $21.00. RGC Resources shares last traded at $21.00, with a volume of 6,205 shares traded.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 6th.

RGC Resources Trading Up 1.7 %

The firm’s 50-day simple moving average is $20.20 and its 200 day simple moving average is $19.23. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 0.99. The firm has a market cap of $213.80 million, a P/E ratio of 16.15 and a beta of 0.20.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $34.00 million. RGC Resources had a net margin of 15.82% and a return on equity of 12.94%. During the same quarter in the prior year, the firm posted $0.64 earnings per share. As a group, analysts expect that RGC Resources, Inc. will post 1.16 earnings per share for the current year.

RGC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 17th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, July 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.81%. RGC Resources’s dividend payout ratio is currently 61.54%.

Insider Transactions at RGC Resources

In related news, Director Robert B. Johnston acquired 1,715 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $18.78 per share, with a total value of $32,207.70. Following the acquisition, the director now owns 63,005 shares of the company’s stock, valued at approximately $1,183,233.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 2,446 shares of company stock valued at $46,262 over the last three months. Company insiders own 6.00% of the company’s stock.

Institutional Trading of RGC Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. Cutter & CO Brokerage Inc. raised its position in shares of RGC Resources by 50.6% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 123,326 shares of the energy company’s stock valued at $2,508,000 after buying an additional 41,421 shares in the last quarter. Quadrature Capital Ltd raised its position in RGC Resources by 39.0% during the third quarter. Quadrature Capital Ltd now owns 16,822 shares of the energy company’s stock valued at $290,000 after purchasing an additional 4,716 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in RGC Resources during the third quarter worth about $4,278,000. Fruth Investment Management purchased a new position in shares of RGC Resources in the 4th quarter worth about $211,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of RGC Resources during the 4th quarter valued at about $35,000. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

RGC Resources Company Profile

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.