RGC Resources (NASDAQ:RGCO) Share Price Crosses Below 200 Day Moving Average – What’s Next?

RGC Resources Inc. (NASDAQ:RGCO)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.74 and traded as low as $20.74. RGC Resources shares last traded at $21.21, with a volume of 6,773 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RGC Resources in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

RGC Resources Price Performance

The stock’s 50-day moving average price is $21.89 and its 200 day moving average price is $21.74. The firm has a market cap of $219.52 million, a price-to-earnings ratio of 16.57 and a beta of 0.53. The company has a quick ratio of 0.59, a current ratio of 1.03 and a debt-to-equity ratio of 1.28.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Thursday, December 4th. The energy company reported $1.29 earnings per share for the quarter. RGC Resources had a return on equity of 11.56% and a net margin of 13.93%.During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts predict that RGC Resources Inc. will post 1.23 earnings per share for the current year.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 16th will be given a dividend of $0.2175 per share. This is a boost from RGC Resources’s previous quarterly dividend of $0.21. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, January 16th. RGC Resources’s dividend payout ratio (DPR) is presently 67.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Prospera Financial Services Inc acquired a new stake in RGC Resources during the second quarter worth $3,544,000. Teton Advisors LLC bought a new position in shares of RGC Resources during the 3rd quarter worth about $2,154,000. Russell Investments Group Ltd. boosted its position 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 acquiring an additional 43,900 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in RGC Resources in the second quarter valued at about $381,000. Finally, Bailard Inc. bought a new stake in RGC Resources in the third quarter valued at about $283,000. 35.77% of the stock is owned by institutional investors.

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.