RGC Resources (NASDAQ:RGCO) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

RGC Resources Inc. (NASDAQ:RGCO) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.54 and traded as low as $22.12. RGC Resources shares last traded at $22.12, with a volume of 19,468 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RGCO. Weiss Ratings upgraded shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Wall Street Zen raised RGC Resources from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

RGC Resources Price Performance

The firm has a 50-day simple moving average of $23.64 and a 200-day simple moving average of $22.54. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The firm has a market cap of $230.27 million, a P/E ratio of 16.51 and a beta of 0.50.

RGC Resources (NASDAQ:RGCO) last announced its earnings results on Wednesday, May 6th. The energy company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $45.46 million during the quarter, compared to the consensus estimate of $38.20 million. RGC Resources had a net margin of 13.01% and a return on equity of 11.87%.

RGC Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 17th will be given a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, July 17th. RGC Resources’s dividend payout ratio is currently 64.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RGCO. Vanguard Group Inc. raised its stake in RGC Resources by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock worth $9,922,000 after acquiring an additional 2,678 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of RGC Resources by 0.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 416,900 shares of the energy company’s stock valued at $9,193,000 after purchasing an additional 3,600 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of RGC Resources by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after acquiring an additional 2,486 shares during the period. Russell Investments Group Ltd. raised its holdings in RGC Resources by 23.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock worth $5,236,000 after purchasing an additional 43,900 shares during the period. Finally, Gabelli Funds LLC lifted its position in shares of RGC Resources by 0.6% during the 1st quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock valued at $5,078,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

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.