RGC Resources (NASDAQ:RGCO) Stock Passes Below 200-Day Moving Average – Should You Sell?

RGC Resources Inc. (NASDAQ:RGCO) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.82 and traded as low as $21.05. RGC Resources shares last traded at $21.05, with a volume of 17,533 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings raised shares of RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, RGC Resources has a consensus rating of “Buy”.

RGC Resources Price Performance

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 has a 50 day simple moving average of $21.67 and a 200 day simple moving average of $21.82. The stock has a market cap of $218.71 million, a P/E ratio of 16.98 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Thursday, February 5th. The energy company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). The business had revenue of $30.26 million for the quarter, compared to the consensus estimate of $28.21 million. RGC Resources had a return on equity of 11.11% and a net margin of 13.11%. Sell-side analysts forecast that RGC Resources Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RGC Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cary Street Partners Financial LLC boosted its stake in shares of RGC Resources by 1.8% during the 3rd quarter. Cary Street Partners Financial LLC now owns 31,817 shares of the energy company’s stock worth $714,000 after buying an additional 557 shares during the last quarter. Martingale Asset Management L P raised its holdings in RGC Resources by 3.6% during the fourth quarter. Martingale Asset Management L P now owns 17,738 shares of the energy company’s stock worth $378,000 after acquiring an additional 616 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in RGC Resources by 5.6% during the second quarter. Envestnet Asset Management Inc. now owns 12,654 shares of the energy company’s stock valued at $283,000 after purchasing an additional 668 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in RGC Resources by 45.7% during the third quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after purchasing an additional 800 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in 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 purchasing an additional 812 shares in the last quarter. 35.77% of the stock is owned by institutional investors.

About RGC Resources

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.