RGC Resources (NASDAQ:RGCO) Share Price Crosses Above 200-Day Moving Average of $18.83

Shares of RGC Resources, Inc. (NASDAQ:RGCO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.83 and traded as high as $19.64. RGC Resources shares last traded at $19.17, with a volume of 5,336 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on RGCO shares. StockNews.com raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. TheStreet raised shares of RGC Resources from a “c” rating to a “b-” rating in a research report on Tuesday, February 6th.

RGC Resources Trading Down 1.9 %

The business’s 50-day moving average price is $19.70 and its 200 day moving average price is $18.83. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.54 and a quick ratio of 0.36. The firm has a market capitalization of $192.02 million, a price-to-earnings ratio of 14.43 and a beta of 0.22.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Monday, February 5th. The energy company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. The business had revenue of $24.42 million for the quarter, compared to analysts’ expectations of $31.00 million. On average, equities analysts forecast that RGC Resources, Inc. will post 1.16 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Tuesday, April 16th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.23%. RGC Resources’s payout ratio is currently 61.07%.

Insider Transactions at RGC Resources

In other news, Director Robert B. Johnston bought 1,715 shares of RGC Resources stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $18.78 per share, with a total value of $32,207.70. Following the completion of the transaction, the director now owns 63,005 shares in the company, valued at approximately $1,183,233.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 2,315 shares of company stock valued at $43,302. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of RGC Resources

Several institutional investors have recently added to or reduced their stakes in RGCO. Bank of New York Mellon Corp increased its stake in RGC Resources by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 50,042 shares of the energy company’s stock valued at $1,082,000 after purchasing an additional 1,462 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in RGC Resources by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 112,773 shares of the energy company’s stock valued at $2,411,000 after purchasing an additional 986 shares during the last quarter. UBS Group AG increased its stake in RGC Resources by 0.6% during the first quarter. UBS Group AG now owns 99,322 shares of the energy company’s stock valued at $2,147,000 after purchasing an additional 597 shares during the last quarter. State Street Corp increased its stake in RGC Resources by 14.3% during the first quarter. State Street Corp now owns 21,968 shares of the energy company’s stock valued at $470,000 after purchasing an additional 2,750 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in RGC Resources by 1.5% during the second quarter. Renaissance Technologies LLC now owns 80,131 shares of the energy company’s stock valued at $1,528,000 after purchasing an additional 1,198 shares during the last quarter. 35.77% of the stock is 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.