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

Key Points

• RGC Resources Inc. shares have recently crossed above their 200-day moving average of $21.33, reaching a trading high of $22.48, with current trading at $22.39.
• The company reported earnings of $0.05 per share for the last quarter, exceeding analyst expectations, contributing to a revenue of $17.27 million.
• Institutional ownership reflects confidence in RGC Resources, with firms like Tower Research Capital and Geneos Wealth Management significantly increasing their stakes by 293.5% and 200%, respectively.

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.33 and traded as high as $22.48. RGC Resources shares last traded at $22.39, with a volume of 11,025 shares trading hands.

Analyst Ratings Changes

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

RGC Resources Stock Up 0.5%

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 firm's 50 day simple moving average is $21.71 and its 200-day simple moving average is $21.38. The stock has a market capitalization of $230.67 million, a price-to-earnings ratio of 17.05 and a beta of 0.48.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in shares of RGC Resources by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company's stock worth $36,000 after purchasing an additional 1,068 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in shares of RGC Resources during the 2nd quarter worth about $59,000. Tower Research Capital LLC TRC increased its stake in shares of RGC Resources by 440.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company's stock worth $63,000 after purchasing an additional 2,299 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $162,000 after purchasing an additional 7,615 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in RGC Resources in the 4th quarter valued at about $224,000. 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.