RGC Resources (NASDAQ:RGCO) Stock Passes Below 200-Day Moving Average – Should You Sell?

Shares of RGC Resources, Inc. (NASDAQ:RGCO) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.75 and traded as low as $19.62. RGC Resources shares last traded at $19.62, with a volume of 20,224 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut RGC Resources from a “hold” rating to a “sell” rating in a report on Thursday, December 19th.

RGC Resources Trading Down 3.5 %

The business’s 50 day simple moving average is $20.71 and its 200-day simple moving average is $20.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. The stock has a market capitalization of $201.36 million, a P/E ratio of 16.91 and a beta of 0.17.

RGC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be paid a dividend of $0.2075 per share. The ex-dividend date is Friday, January 17th. This is a boost from RGC Resources’s previous quarterly dividend of $0.20. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.23%. RGC Resources’s payout ratio is 71.55%.

Hedge Funds Weigh In On RGC Resources

Several hedge funds have recently added to or reduced their stakes in RGCO. Rhumbline Advisers raised its position in shares of RGC Resources by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after acquiring an additional 497 shares during the period. Barclays PLC raised its holdings in RGC Resources by 257.3% in the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after purchasing an additional 7,879 shares during the period. Fruth Investment Management boosted its position in shares of RGC Resources by 10.1% during the third quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after purchasing an additional 1,198 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of RGC Resources by 267.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after buying an additional 10,697 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of RGC Resources by 4.6% in the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after buying an additional 1,161 shares during the period. Institutional investors and hedge funds 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.