RGC Resources (NASDAQ:RGCO) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

RGC Resources Inc. (NASDAQ:RGCO) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.80 and traded as low as $21.35. RGC Resources shares last traded at $21.53, with a volume of 5,663 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RGCO shares. Weiss Ratings upgraded shares of RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

RGC Resources Stock Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 0.80 and a quick ratio of 0.58. The stock has a 50-day moving average price of $21.73 and a 200-day moving average price of $21.79. The firm has a market capitalization of $219.75 million, a PE ratio of 17.06 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Thursday, February 5th. The energy company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). RGC Resources had a net margin of 13.11% and a return on equity of 11.11%. The business had revenue of $30.26 million for the quarter, compared to analyst estimates of $28.21 million. On average, research analysts expect that RGC Resources Inc. will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RGCO. Vanguard Group Inc. raised its stake in shares of RGC Resources by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 442,151 shares of the energy company’s stock valued at $9,922,000 after purchasing an additional 2,678 shares in the last quarter. Ameriprise Financial Inc. raised its stake in RGC Resources by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock valued at $9,028,000 after buying an additional 2,486 shares in the last quarter. Russell Investments Group Ltd. raised its stake in RGC Resources by 23.2% during the third quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock valued at $5,236,000 after buying an additional 43,900 shares in the last quarter. Geode Capital Management LLC lifted its holdings in RGC Resources by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 199,636 shares of the energy company’s stock worth $4,253,000 after buying an additional 1,467 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in shares of RGC Resources by 3.8% in the 4th quarter. Prospera Financial Services Inc now owns 176,437 shares of the energy company’s stock worth $3,758,000 after acquiring an additional 6,423 shares in the last quarter. 35.77% of the stock is 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.