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

RGC Resources Inc. (NASDAQ:RGCO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.82 and traded as high as $22.65. RGC Resources shares last traded at $22.34, with a volume of 10,326 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings upgraded RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Wall Street Zen raised shares of RGC Resources from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

RGC Resources Stock Up 1.0%

The stock’s fifty day moving average price is $21.56 and its 200 day moving average price is $21.82. The company has a current ratio of 0.80, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The stock has a market cap of $232.11 million, a P/E ratio of 18.02 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last announced its earnings results on Thursday, February 5th. The energy company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.05). The company had revenue of $30.26 million during the quarter, compared to analysts’ expectations of $28.21 million. RGC Resources had a return on equity of 11.11% and a net margin of 13.11%. As a group, research analysts forecast that RGC Resources Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of RGC Resources

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in RGC Resources by 0.6% during the third quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock valued at $9,922,000 after acquiring an additional 2,678 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of RGC Resources by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock valued at $9,028,000 after purchasing an additional 2,486 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of RGC Resources by 23.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock valued at $5,236,000 after purchasing an additional 43,900 shares during the last quarter. Geode Capital Management LLC raised its position in RGC Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 199,636 shares of the energy company’s stock worth $4,253,000 after purchasing an additional 1,467 shares during the period. Finally, Prospera Financial Services Inc lifted its stake in RGC Resources by 3.8% in the fourth quarter. Prospera Financial Services Inc now owns 176,437 shares of the energy company’s stock worth $3,758,000 after purchasing an additional 6,423 shares during the last quarter. Institutional investors own 35.77% of the company’s stock.

About RGC Resources

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.