RGC Resources (NASDAQ:RGCO) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• RGC Resources (NASDAQ:RGCO) shares have surpassed their 200-day moving average, reaching a high of $22.10 and last trading at $21.42.
• The company recently received a downgrade from Wall Street Zen, reducing its rating from "buy" to "hold."
• RGC Resources reported earnings of $0.05 per share for the last quarter, exceeding analysts' expectations of $0.02, with revenue of $17.27 million compared to the $15.00 million forecast.

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.17 and traded as high as $22.10. RGC Resources shares last traded at $21.42, with a volume of 14,481 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of RGC Resources from a "buy" rating to a "hold" rating in a report on Saturday, August 16th.

RGC Resources Stock Performance

The company's fifty day simple moving average is $21.59 and its 200 day simple moving average is $21.18. The company has a current ratio of 1.04, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $226.74 million, a P/E ratio of 16.76 and a beta of 0.46.

RGC Resources (NASDAQ:RGCO - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The energy company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. RGC Resources had a net margin of 14.48% and a return on equity of 12.01%. The firm had revenue of $17.27 million during the quarter, compared to the consensus estimate of $15.00 million. As a group, sell-side analysts forecast that RGC Resources Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in RGC Resources by 105.0% in the 4th quarter. JPMorgan Chase & Co. now owns 30,129 shares of the energy company's stock valued at $604,000 after purchasing an additional 15,434 shares during the period. Cary Street Partners Financial LLC bought a new position in RGC Resources in the 4th quarter valued at $668,000. GAMMA Investing LLC raised its position 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 buying an additional 7,615 shares in the last quarter. Northern Trust Corp raised its position in shares of RGC Resources by 4.2% during the 4th quarter. Northern Trust Corp now owns 72,653 shares of the energy company's stock valued at $1,457,000 after buying an additional 2,918 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of RGC Resources during the 4th quarter valued at $224,000. 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.