RGC Resources (NASDAQ:RGCO) Share Price Passes Below Two Hundred Day Moving Average - Should You Sell?

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.08 and traded as low as $20.52. RGC Resources shares last traded at $20.63, with a volume of 19,536 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of RGC Resources from a "hold" rating to a "buy" rating in a research report on Sunday, July 6th.

RGC Resources Price Performance

The firm's 50-day moving average is $21.44 and its 200-day moving average is $21.10. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.57 and a quick ratio of 0.48. The company has a market capitalization of $212.39 million, a P/E ratio of 16.09 and a beta of 0.45.

RGC Resources (NASDAQ:RGCO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $36.46 million during the quarter, compared to analyst estimates of $34.00 million. RGC Resources had a net margin of 14.50% and a return on equity of 11.86%. Analysts predict that RGC Resources Inc. will post 1.23 EPS for the current fiscal year.

RGC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.2075 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.83 dividend on an annualized basis and a yield of 4.03%. RGC Resources's dividend payout ratio is currently 64.84%.

Hedge Funds Weigh In On RGC Resources

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

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.