RGC Resources (NASDAQ:RGCO) Share Price Passes Above 200 Day Moving Average of $19.23

RGC Resources, Inc. (NASDAQ:RGCO)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $19.23 and traded as high as $21.00. RGC Resources shares last traded at $21.00, with a volume of 6,205 shares.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 6th.

RGC Resources Trading Up 1.7 %

The company has a 50 day moving average of $20.20 and a 200 day moving average of $19.23. The firm has a market cap of $213.80 million, a price-to-earnings ratio of 16.15 and a beta of 0.20. The company has a current ratio of 0.54, a quick ratio of 0.36 and a debt-to-equity ratio of 0.99.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). RGC Resources had a net margin of 15.82% and a return on equity of 12.94%. The business had revenue of $32.66 million during the quarter, compared to the consensus estimate of $34.00 million. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, research analysts anticipate that RGC Resources, Inc. will post 1.16 EPS for the current year.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 17th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.81%. RGC Resources’s dividend payout ratio (DPR) is currently 61.54%.

Insider Activity at RGC Resources

In other news, Director Robert B. Johnston acquired 1,715 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $18.78 per share, for a total transaction of $32,207.70. Following the transaction, the director now owns 63,005 shares of the company’s stock, valued at $1,183,233.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased a total of 2,446 shares of company stock valued at $46,262 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of RGC Resources

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of RGC Resources during the 3rd quarter worth about $53,000. Watershed Asset Management L.L.C. acquired a new position in RGC Resources during the third quarter valued at approximately $252,000. Gamco Investors INC. ET AL bought a new stake in RGC Resources in the third quarter valued at approximately $4,278,000. Gabelli Funds LLC raised its holdings in RGC Resources by 54.3% in the third quarter. Gabelli Funds LLC now owns 164,700 shares of the energy company’s stock worth $2,849,000 after purchasing an additional 57,930 shares during the period. Finally, FCA Corp TX boosted its position in shares of RGC Resources by 21.2% during the third quarter. FCA Corp TX now owns 42,204 shares of the energy company’s stock worth $730,000 after purchasing an additional 7,389 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.