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

RGC Resources Inc. (NASDAQ:RGCO) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.80 and traded as low as $21.35. RGC Resources shares last traded at $21.53, with a volume of 5,663 shares.

Wall Street Analysts Forecast Growth

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

RGC Resources Price Performance

The stock’s 50-day simple moving average is $21.75 and its 200 day simple moving average is $21.80. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 1.19. The company has a market cap of $223.70 million, a price-to-earnings ratio of 17.36 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last announced its 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). RGC Resources had a return on equity of 11.11% and a net margin of 13.11%.The company had revenue of $30.26 million for the quarter, compared to analysts’ expectations of $28.21 million. On average, equities research analysts anticipate that RGC Resources Inc. will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On RGC Resources

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in RGC Resources by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock valued at $9,922,000 after purchasing an additional 2,678 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in RGC Resources by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after purchasing an additional 2,486 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of RGC Resources by 23.2% during the third quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock worth $5,236,000 after buying an additional 43,900 shares during the period. Geode Capital Management LLC boosted its position in shares of RGC Resources by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 199,636 shares of the energy company’s stock worth $4,253,000 after buying an additional 1,467 shares during the period. Finally, Prospera Financial Services Inc grew its stake in shares of RGC Resources by 3.8% in the fourth quarter. Prospera Financial Services Inc now owns 176,437 shares of the energy company’s stock valued at $3,758,000 after buying an additional 6,423 shares in the last quarter. Hedge funds and other institutional investors 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.