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

Key Points

• RGC Resources' share price crossed above its 200-day moving average of $21.79 on Thursday, trading as high as $22.96 and last at $22.89 on volume of 11,664 shares.
• Recent analyst action includes upgrades (Weiss Ratings to buy and Wall Street Zen to hold), and MarketBeat shows a consensus rating of Buy for the stock.
• The company missed quarterly EPS expectations ($0.47 vs. $0.52) but beat revenue estimates ($30.26M vs. $28.21M), and declared a quarterly dividend that equates to a 3.8% dividend yield with a payout ratio around 70%.

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.79 and traded as high as $22.96. RGC Resources shares last traded at $22.89, with a volume of 11,664 shares.

Analyst Ratings Changes

RGCO has been the subject of several recent analyst reports. Weiss Ratings raised shares of RGC Resources from a "hold (c)" rating to a "buy (b-)" rating in a research note on Tuesday, February 10th. Wall Street Zen raised shares of RGC Resources from a "sell" rating to a "hold" rating in a research report on Sunday, February 15th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy".

RGC Resources Stock Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.58 and a current ratio of 0.80. The stock has a market cap of $237.83 million, a PE ratio of 18.46 and a beta of 0.52. The firm has a fifty day moving average price of $21.94 and a 200 day moving average price of $21.79.

RGC Resources (NASDAQ:RGCO - Get Free Report) last released its earnings results on Thursday, February 5th. The energy company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). RGC Resources had a return on equity of 11.11% and a net margin of 13.11%.The company had revenue of $30.26 million for the quarter, compared to analysts' expectations of $28.21 million. Research analysts forecast that RGC Resources Inc. will post 1.23 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be issued a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, April 17th. RGC Resources's dividend payout ratio is presently 70.16%.

Institutional Investors Weigh In On RGC Resources

Several hedge funds have recently bought and sold shares of the stock. Teton Advisors LLC acquired a new stake in RGC Resources during the third quarter valued at $2,154,000. Geode Capital Management LLC increased its stake in shares of RGC Resources by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 199,636 shares of the energy company's stock valued at $4,253,000 after purchasing an additional 1,467 shares in the last quarter. State Street Corp raised its holdings in RGC Resources by 1.8% in the 4th quarter. State Street Corp now owns 109,804 shares of the energy company's stock worth $2,339,000 after purchasing an additional 1,898 shares during the period. Wells Fargo & Company MN boosted its position in RGC Resources by 9.6% during the fourth quarter. Wells Fargo & Company MN now owns 48,866 shares of the energy company's stock worth $1,041,000 after purchasing an additional 4,298 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in RGC Resources by 104.0% in the third quarter. Squarepoint Ops LLC now owns 19,396 shares of the energy company's stock valued at $435,000 after purchasing an additional 9,887 shares during the period. Hedge funds and other institutional investors own 35.77% of the company's stock.

About RGC Resources

RGC Resources, Inc NASDAQ: RGCO is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.

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