RGC Resources (NASDAQ:RGCO) Stock Price Crosses Above 200-Day Moving Average of $18.83

RGC Resources, Inc. (NASDAQ:RGCO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 6th. StockNews.com upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a report on Thursday, December 28th.

RGC Resources Stock Down 2.9 %

The stock has a 50-day moving average price of $19.68 and a 200-day moving average price of $18.83. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.54 and a quick ratio of 0.36. The company has a market capitalization of $194.77 million, a P/E ratio of 14.63 and a beta of 0.22.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Monday, February 5th. The energy company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. The firm 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%. On average, research analysts predict that RGC Resources, Inc. will post 1.16 EPS for the current fiscal year.

RGC Resources Dividend Announcement

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

Insider Buying and Selling at RGC Resources

In other RGC Resources news, Director Robert B. Johnston acquired 1,715 shares of the stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average cost of $18.78 per share, with a total value of $32,207.70. Following the transaction, the director now owns 63,005 shares in the company, valued at approximately $1,183,233.90. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have bought 2,315 shares of company stock valued at $43,302. 6.00% of the stock is currently owned by insiders.

Institutional Trading of RGC Resources

Several hedge funds have recently modified their holdings of RGCO. BlackRock Inc. grew its holdings in RGC Resources by 1.3% in the first quarter. BlackRock Inc. now owns 44,904 shares of the energy company’s stock worth $1,041,000 after purchasing an additional 590 shares during the period. UBS Group AG grew its stake in shares of RGC Resources by 0.6% in the 1st quarter. UBS Group AG now owns 99,322 shares of the energy company’s stock valued at $2,147,000 after buying an additional 597 shares during the period. Barclays PLC increased its position in RGC Resources by 66.6% in the 2nd quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock valued at $37,000 after buying an additional 723 shares in the last quarter. Royal Bank of Canada raised its stake in RGC Resources by 11.5% during the 3rd quarter. Royal Bank of Canada now owns 7,921 shares of the energy company’s stock worth $166,000 after buying an additional 818 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in RGC Resources by 1.3% in the first quarter. Geode Capital Management LLC now owns 70,532 shares of the energy company’s stock worth $1,636,000 after acquiring an additional 906 shares in the last quarter. Institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

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.