RGC Resources (NASDAQ:RGCO) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report)'s share price crossed 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 traded.

Analyst Upgrades and Downgrades

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

RGC Resources Price Performance

The company has a market cap of $209.02 million, a price-to-earnings ratio of 17.32 and a beta of 0.43. The company has a 50-day simple moving average of $21.17 and a 200-day simple moving average of $20.79. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56.

RGC Resources (NASDAQ:RGCO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.06. The firm had revenue of $36.46 million for the quarter, compared to analyst estimates of $34.00 million. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. As a group, research analysts predict that RGC Resources, Inc. will post 1.23 earnings per share for the current year.

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Friday, July 18th. RGC Resources's dividend payout ratio is currently 64.84%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position 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. Gabelli Funds LLC boosted its stake in shares of RGC Resources by 0.3% during the fourth quarter. Gabelli Funds LLC now owns 229,000 shares of the energy company's stock valued at $4,594,000 after acquiring an additional 794 shares during the last quarter. Teton Advisors Inc. increased its position in RGC Resources by 0.8% during the 4th quarter. Teton Advisors Inc. now owns 95,130 shares of the energy company's stock worth $1,908,000 after purchasing an additional 800 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in RGC Resources by 293.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company's stock valued at $26,000 after purchasing an additional 951 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in 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 in the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

RGC Resources Company Profile

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.