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

Shares of RGC Resources Inc. (NASDAQ:RGCO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.79 and traded as high as $22.39. RGC Resources shares last traded at $22.08, with a volume of 7,362 shares traded.

Analyst Ratings Changes

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

RGC Resources Stock Down 2.6%

The firm has a fifty day moving average price of $21.98 and a 200-day moving average price of $21.79. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 1.19. The firm has a market cap of $229.41 million, a price-to-earnings ratio of 17.81 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data 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). RGC Resources had a return on equity of 11.11% and a net margin of 13.11%.The business had revenue of $30.26 million for the quarter, compared to analyst estimates of $28.21 million.

RGC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be issued a dividend of $0.2175 per share. The ex-dividend date is Friday, April 17th. This represents a $0.87 annualized dividend and a dividend yield of 3.9%. RGC Resources’s dividend payout ratio (DPR) is 70.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in RGC Resources by 0.6% in 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 holdings in RGC Resources by 0.6% in 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 last quarter. Russell Investments Group Ltd. boosted its holdings in RGC Resources by 23.2% in 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 last quarter. Geode Capital Management LLC boosted its holdings in RGC Resources by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 199,636 shares of the energy company’s stock valued at $4,253,000 after acquiring an additional 1,467 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its holdings 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 valued at $3,758,000 after acquiring an additional 6,423 shares during the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

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.