RGC Resources (NASDAQ:RGCO) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

Shares of RGC Resources Inc. (NASDAQ:RGCO) crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RGCO shares. Wall Street Zen cut shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded shares of RGC Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. 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 Trading Up 2.4%

The business has a fifty day moving average price of $23.02 and a two-hundred day moving average price of $22.26. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $260.56 million, a PE ratio of 18.68 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last posted its earnings results 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 analysts’ expectations of $38.20 million. RGC Resources had a net margin of 13.01% and a return on equity of 11.87%.

RGC Resources Dividend Announcement

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 $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, April 17th. RGC Resources’s dividend payout ratio is currently 64.93%.

Institutional Trading of RGC Resources

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its stake in RGC Resources by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after purchasing an additional 1,068 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of RGC Resources by 80.9% in the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after buying an additional 812 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after buying an additional 2,299 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of RGC Resources in the 4th quarter valued at $103,000. Finally, Kestra Advisory Services LLC acquired a new position in RGC Resources during the 4th quarter worth about $119,000. Institutional investors and hedge funds own 35.77% of the company’s stock.

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.