RGC Resources (NASDAQ:RGCO) Stock Passes Above Fifty Day Moving Average – Time to Sell?

RGC Resources Inc. (NASDAQ:RGCO) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $23.33 and traded as high as $25.09. RGC Resources shares last traded at $23.72, with a volume of 13,498 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings raised 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 shares of RGC Resources from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, RGC Resources currently has an average rating of “Buy”.

RGC Resources Price Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 0.69 and a quick ratio of 0.59. The stock has a market capitalization of $251.40 million, a price-to-earnings ratio of 18.02 and a beta of 0.50. The company has a 50-day simple moving average of $23.41 and a two-hundred day simple moving average of $22.37.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $38.20 million. RGC Resources had a return on equity of 11.87% and a net margin of 13.01%.

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 issued a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, July 17th. RGC Resources’s payout ratio is presently 64.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RGCO. D.A. Davidson & CO. acquired a new position in RGC Resources in the 1st quarter worth approximately $201,000. Gamco Investors INC. ET AL grew its position in 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 worth $9,193,000 after purchasing an additional 3,600 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in RGC Resources by 200.0% during 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 period. Kestra Advisory Services LLC acquired a new stake in RGC Resources during the 4th quarter valued at $119,000. Finally, Geode Capital Management LLC lifted its holdings in shares of RGC Resources by 0.9% in the second quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock valued at $4,441,000 after purchasing an additional 1,701 shares in the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

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.