RGC Resources (NASDAQ:RGCO) Shares Cross Above 200-Day Moving Average of $18.83

RGC Resources, Inc. (NASDAQ:RGCO)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.83 and traded as high as $19.64. RGC Resources shares last traded at $19.17, with a volume of 5,336 shares traded.

Wall Street Analysts Forecast Growth

RGCO has been the subject of several analyst reports. StockNews.com raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th. TheStreet raised RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 6th.

RGC Resources Price Performance

The stock’s 50 day moving average price is $19.68 and its 200-day moving average price is $18.83. 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 stock has a market capitalization of $194.77 million, a PE ratio of 14.63 and a beta of 0.22.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Monday, February 5th. The energy company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The company had revenue of $24.42 million during the quarter, compared to analyst estimates of $31.00 million. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. As a group, equities analysts forecast that RGC Resources, Inc. will post 1.16 EPS for the current year.

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Tuesday, April 16th will be issued a $0.20 dividend. The ex-dividend date is Monday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.17%. RGC Resources’s payout ratio is 61.07%.

Insider Buying and Selling

In other news, Director Robert B. Johnston purchased 1,715 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $18.78 per share, for a total transaction of $32,207.70. Following the completion of the purchase, the director now owns 63,005 shares in the company, valued at approximately $1,183,233.90. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 2,315 shares of company stock valued at $43,302 over the last quarter. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On RGC Resources

A number of large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new position in shares of RGC Resources in the 4th quarter valued at $35,000. Barclays PLC grew its stake in RGC Resources by 66.6% in the second quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock valued at $37,000 after purchasing an additional 723 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in RGC Resources in the third quarter worth about $53,000. California State Teachers Retirement System purchased a new stake in shares of RGC Resources during the second quarter valued at about $53,000. Finally, BNP Paribas Arbitrage SNC grew its position in shares of RGC Resources by 3,127.8% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,905 shares of the energy company’s stock worth $58,000 after buying an additional 2,815 shares during the last quarter. Institutional investors own 35.77% of the company’s stock.

About RGC Resources

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.