RGC Resources (NASDAQ:RGCO) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

RGC Resources Inc. (NASDAQ:RGCO) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

RGCO has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of RGC Resources from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

RGC Resources Price Performance

The company has a market cap of $230.58 million, a price-to-earnings ratio of 16.53 and a beta of 0.52. The company has a fifty day simple moving average of $22.26 and a two-hundred day simple moving average of $21.91. The company has a quick ratio of 0.58, a current ratio of 0.69 and a debt-to-equity ratio of 1.04.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business also recently disclosed 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 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, April 17th. RGC Resources’s dividend payout ratio is presently 64.93%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RGCO. Geode Capital Management LLC raised its holdings in shares of RGC Resources by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock worth $4,441,000 after purchasing an additional 1,701 shares during the period. Ameriprise Financial Inc. increased its position in shares of RGC Resources by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after acquiring an additional 2,486 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of RGC Resources by 440.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock worth $63,000 after acquiring an additional 2,299 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 1,068 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of RGC Resources by 45.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after acquiring an additional 800 shares during the period. 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.