RGC Resources (NASDAQ:RGCO) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

RGC Resources Inc. (NASDAQ:RGCO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.74 and traded as low as $20.74. RGC Resources shares last traded at $21.21, with a volume of 6,773 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RGC Resources in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, RGC Resources currently has an average rating of “Hold”.

RGC Resources Price Performance

The company has a debt-to-equity ratio of 1.28, a current ratio of 1.03 and a quick ratio of 0.59. The stock has a market capitalization of $219.52 million, a P/E ratio of 16.57 and a beta of 0.53. The stock’s fifty day moving average is $21.89 and its 200-day moving average is $21.74.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Thursday, December 4th. The energy company reported $1.29 earnings per share for the quarter. RGC Resources had a return on equity of 11.56% and a net margin of 13.93%.During the same period in the previous year, the company earned $1.16 earnings per share. On average, equities analysts anticipate that RGC Resources Inc. will post 1.23 earnings per share for the current year.

RGC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 16th will be given a dividend of $0.2175 per share. The ex-dividend date of this dividend is Friday, January 16th. This is an increase from RGC Resources’s previous quarterly dividend of $0.21. This represents a $0.87 dividend on an annualized basis and a yield of 4.1%. RGC Resources’s dividend payout ratio (DPR) is currently 67.97%.

Institutional Trading of RGC Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of RGC Resources by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock worth $9,922,000 after buying an additional 2,678 shares during the period. Ameriprise Financial Inc. boosted its holdings in RGC Resources by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock valued at $9,028,000 after acquiring an additional 2,486 shares during the period. Russell Investments Group Ltd. boosted its holdings in RGC Resources by 23.2% during the third quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock valued at $5,236,000 after acquiring an additional 43,900 shares during the period. Geode Capital Management LLC grew its position in shares of RGC Resources by 0.9% in the second quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock valued at $4,441,000 after purchasing an additional 1,701 shares during the last quarter. Finally, Prospera Financial Services Inc increased its stake in shares of RGC Resources by 7.4% in the third quarter. Prospera Financial Services Inc now owns 170,014 shares of the energy company’s stock worth $3,815,000 after purchasing an additional 11,674 shares during the period. 35.77% of the stock is currently owned by institutional investors and hedge funds.

RGC Resources Company Profile

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.