RGC Resources (NASDAQ:RGCO) Share Price Crosses Above 200-Day Moving Average of $18.83

RGC Resources, Inc. (NASDAQ:RGCO) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.83 and traded as high as $19.64. RGC Resources shares last traded at $19.17, with a volume of 5,336 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 6th. StockNews.com upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th.

RGC Resources Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.36 and a current ratio of 0.54. The company’s 50 day moving average price is $19.70 and its 200 day moving average price is $18.83. The company has a market cap of $192.02 million, a price-to-earnings ratio of 14.43 and a beta of 0.22.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Monday, February 5th. The energy company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.39 by $0.11. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. The company had revenue of $24.42 million for the quarter, compared to the consensus estimate of $31.00 million. On average, equities research analysts predict that RGC Resources, Inc. will post 1.16 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Tuesday, April 16th will be issued a $0.20 dividend. The ex-dividend date is Monday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.23%. RGC Resources’s dividend payout ratio is 61.07%.

Insider Activity at RGC Resources

In other RGC Resources news, Director Robert B. Johnston purchased 1,715 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average cost of $18.78 per share, with a total value of $32,207.70. Following the completion of the acquisition, the director now directly owns 63,005 shares of the company’s stock, valued at approximately $1,183,233.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 2,315 shares of company stock valued at $43,302 over the last ninety days. 6.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RGCO. Nisa Investment Advisors LLC bought a new stake in RGC Resources during the 4th quarter worth about $35,000. Barclays PLC raised its holdings in RGC Resources by 66.6% during the 2nd quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock worth $37,000 after purchasing an additional 723 shares during the last quarter. California State Teachers Retirement System bought a new stake in RGC Resources during the 2nd quarter worth about $53,000. BNP Paribas Arbitrage SNC raised its holdings in RGC Resources by 3,127.8% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,905 shares of the energy company’s stock worth $58,000 after purchasing an additional 2,815 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in RGC Resources during the 3rd quarter worth about $53,000. 35.77% of the stock is owned by institutional investors.

About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.