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

RGC Resources Inc. (NASDAQ:RGCO)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.07 and traded as low as $22.01. RGC Resources shares last traded at $22.27, with a volume of 13,516 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded RGC Resources from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One 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 Stock Performance

The stock’s fifty day moving average price is $22.56 and its two-hundred day moving average price is $22.09. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.69. The company has a market cap of $238.70 million, a P/E ratio of 17.11 and a beta of 0.52.

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

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 17th were issued a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, April 17th. RGC Resources’s dividend payout ratio is 64.93%.

Institutional Trading of RGC Resources

Several institutional investors and hedge funds have recently modified their holdings of RGCO. Geode Capital Management LLC lifted its position in shares of RGC Resources by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock worth $4,441,000 after buying an additional 1,701 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in RGC Resources by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock valued at $9,028,000 after purchasing an additional 2,486 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after purchasing an additional 2,299 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in RGC Resources by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after purchasing an additional 1,068 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in RGC Resources by 647.1% in the 3rd quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock valued at $28,000 after purchasing an additional 1,100 shares during the last quarter. 35.77% of the stock is currently 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.