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

RGC Resources Inc. (NASDAQ:RGCO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.91 and traded as high as $23.49. RGC Resources shares last traded at $22.15, with a volume of 14,441 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RGCO. Wall Street Zen upgraded RGC Resources from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

RGC Resources Trading Down 4.2%

The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $22.26 and its two-hundred day simple moving average is $21.91. The company has a market capitalization of $230.58 million, a PE ratio of 16.53 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $45.46 million during the quarter, compared to analysts’ expectations of $38.20 million. RGC Resources had a net margin of 13.01% and a return on equity of 11.87%.

RGC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 17th were given a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, April 17th. RGC Resources’s dividend payout ratio is presently 64.93%.

Hedge Funds Weigh In On RGC Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gabelli Funds LLC raised its stake in shares of RGC Resources by 0.6% in the 1st quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock valued at $5,078,000 after purchasing an additional 1,300 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in RGC Resources by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 416,900 shares of the energy company’s stock worth $9,193,000 after acquiring an additional 3,600 shares during the period. FCA Corp TX raised its stake in RGC Resources by 1.9% during the first quarter. FCA Corp TX now owns 42,773 shares of the energy company’s stock worth $943,000 after acquiring an additional 795 shares during the period. Dimensional Fund Advisors LP raised its stake in RGC Resources by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 126,931 shares of the energy company’s stock worth $2,799,000 after acquiring an additional 3,175 shares during the period. Finally, D.A. Davidson & CO. acquired a new stake in RGC Resources during the first quarter worth about $201,000. 35.77% of the stock is owned by hedge funds and other 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.