RGC Resources (NASDAQ:RGCO) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

RGC Resources Inc. (NASDAQ:RGCO)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.84 and traded as high as $21.99. RGC Resources shares last traded at $21.96, with a volume of 8,964 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RGCO shares. Weiss Ratings raised RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. Wall Street Zen raised 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, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

RGC Resources Price Performance

The stock has a market capitalization of $228.25 million, a price-to-earnings ratio of 17.71 and a beta of 0.52. 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 company’s 50 day moving average is $21.69 and its 200 day moving average is $21.84.

RGC Resources (NASDAQ:RGCO) last released 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). The company had revenue of $30.26 million during the quarter, compared to analyst estimates of $28.21 million. RGC Resources had a net margin of 13.11% and a return on equity of 11.11%. Research analysts anticipate that RGC Resources Inc. will post 1.23 EPS for the current fiscal year.

Institutional Trading of RGC Resources

A number of large investors have recently made changes to their positions in the company. New York State Common Retirement Fund increased its position in RGC Resources by 647.1% during the third quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock worth $28,000 after buying an additional 1,100 shares during the period. Geneos Wealth Management Inc. lifted its stake in RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after buying an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of RGC Resources by 80.9% in the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after acquiring an additional 812 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of RGC Resources by 45.7% in the third quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after acquiring an additional 800 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of RGC Resources by 440.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock worth $63,000 after acquiring an additional 2,299 shares during the last quarter. 35.77% of the stock is 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.