RGC Resources (NASDAQ:RGCO) Shares Cross Above 50-Day Moving Average – Time to Sell?

Shares of RGC Resources Inc. (NASDAQ:RGCO) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $22.96 and traded as high as $24.35. RGC Resources shares last traded at $24.08, with a volume of 12,564 shares trading hands.

Analyst Ratings Changes

Several research firms have commented on RGCO. Wall Street Zen lowered shares of RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. 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, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

RGC Resources Stock Down 1.6%

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 stock’s fifty day simple moving average is $22.96 and its two-hundred day simple moving average is $22.23. The stock has a market capitalization of $250.67 million, a P/E ratio of 17.97 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last released 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 firm had revenue of $45.46 million during 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 announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 17th were given a dividend of $0.2175 per share. The ex-dividend date was Friday, April 17th. This represents a $0.87 annualized dividend and a dividend yield of 3.6%. RGC Resources’s dividend payout ratio is presently 64.93%.

Institutional Trading of RGC Resources

Several hedge funds have recently modified their holdings of RGCO. Geneos Wealth Management Inc. lifted its position in shares of 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 acquiring an additional 1,068 shares during the period. BNP Paribas Financial Markets grew its holdings in RGC Resources by 80.9% in the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock worth $41,000 after purchasing an additional 812 shares during the period. Tower Research Capital LLC TRC increased its stake in 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 valued at $63,000 after purchasing an additional 2,299 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in RGC Resources in the fourth quarter valued at $103,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of RGC Resources during the fourth quarter valued at about $119,000. 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.