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

RGC Resources Inc. (NASDAQ:RGCO)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RGCO. Wall Street Zen upgraded RGC Resources from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. 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. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, RGC Resources currently has a consensus rating of “Buy”.

RGC Resources Stock Down 4.1%

The business has a 50-day simple moving average of $23.64 and a 200-day simple moving average of $22.54. 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 $230.27 million, a price-to-earnings ratio of 16.51 and a beta of 0.50.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The company had revenue of $45.46 million for 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 declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 17th will be issued 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 is Friday, July 17th. RGC Resources’s dividend payout ratio is 64.93%.

Hedge Funds Weigh In On RGC Resources

Hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC grew its stake in RGC Resources by 0.6% during the 1st quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock worth $5,078,000 after buying an additional 1,300 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in RGC Resources by 0.9% in 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 buying an additional 3,600 shares during the period. FCA Corp TX raised its holdings 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 purchasing an additional 795 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of RGC Resources by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 126,931 shares of the energy company’s stock worth $2,799,000 after buying an additional 3,175 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in RGC Resources in the first quarter worth $201,000. Hedge funds and other institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

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.