RGC Resources (NASDAQ:RGCO) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

RGC Resources, Inc. (NASDAQ:RGCO) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.78 and traded as high as $21.00. RGC Resources shares last traded at $19.82, with a volume of 19,245 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of RGC Resources from a “hold” rating to a “sell” rating in a research note on Thursday.

RGC Resources Price Performance

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.52 and a current ratio of 0.87. The business has a 50 day simple moving average of $20.86 and a 200-day simple moving average of $20.78. The firm has a market cap of $203.41 million, a price-to-earnings ratio of 17.09 and a beta of 0.17.

RGC Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be issued a dividend of $0.2075 per share. The ex-dividend date is Friday, January 17th. This represents a $0.83 annualized dividend and a yield of 4.19%. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s dividend payout ratio is 71.55%.

Hedge Funds Weigh In On RGC Resources

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in shares of RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares during the last quarter. Renaissance Technologies LLC increased its stake in RGC Resources by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock valued at $888,000 after buying an additional 600 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of RGC Resources by 16.4% during the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after buying an additional 31,651 shares in the last quarter. Fruth Investment Management boosted its stake in shares of RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after buying an additional 1,198 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. grew its holdings in shares of RGC Resources by 18.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after acquiring an additional 21,489 shares in the last quarter. 35.77% of the stock is currently 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.