RGC Resources (NASDAQ:RGCO) Shares Pass Above Two Hundred Day Moving Average - What's Next?

RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.80 and traded as high as $20.88. RGC Resources shares last traded at $20.88, with a volume of 10,318 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of RGC Resources from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th.

RGC Resources Stock Down 1.7%

The firm has a market capitalization of $211.60 million, a price-to-earnings ratio of 17.54 and a beta of 0.43. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41. The business has a fifty day moving average price of $21.24 and a two-hundred day moving average price of $20.80.

RGC Resources (NASDAQ:RGCO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. RGC Resources had a net margin of 13.73% and a return on equity of 10.94%. The company had revenue of $36.46 million for the quarter, compared to the consensus estimate of $34.00 million. On average, equities analysts expect that RGC Resources, Inc. will post 1.23 earnings per share for the current year.

RGC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.83 annualized dividend and a dividend yield of 4.04%. RGC Resources's dividend payout ratio (DPR) is presently 64.84%.

Hedge Funds Weigh In On RGC Resources

Several institutional investors and hedge funds have recently modified their holdings of RGCO. Tower Research Capital LLC TRC lifted its holdings in RGC Resources by 293.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company's stock valued at $26,000 after acquiring an additional 951 shares during the period. GAMMA Investing LLC increased its holdings in shares of RGC Resources by 5,110.7% during the 1st quarter. GAMMA Investing LLC now owns 7,764 shares of the energy company's stock valued at $162,000 after purchasing an additional 7,615 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of RGC Resources by 12.2% in the 4th quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company's stock valued at $195,000 after purchasing an additional 1,055 shares during the period. Deutsche Bank AG acquired a new position in shares of RGC Resources in the 4th quarter valued at $224,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in RGC Resources by 6.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,454 shares of the energy company's stock worth $230,000 after buying an additional 680 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company's stock.

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.