RGC Resources (NASDAQ:RGCO) Stock Passes Below 200 Day Moving Average – Here’s Why

RGC Resources, Inc. (NASDAQ:RGCO) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of RGC Resources from a “hold” rating to a “sell” rating in a research note on Thursday, December 19th.

RGC Resources Trading Down 3.5 %

The company’s 50 day simple moving average is $20.71 and its 200-day simple moving average is $20.75. The firm has a market cap of $201.36 million, a P/E ratio of 16.91 and a beta of 0.17. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26.

RGC Resources Increases Dividend

The firm also recently declared 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. This is a positive change 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%. The ex-dividend date is Friday, January 17th. RGC Resources’s dividend payout ratio (DPR) is currently 71.55%.

Institutional Trading of RGC Resources

Several institutional investors and hedge funds have recently made changes to their positions in RGCO. Gabelli Funds LLC lifted its holdings in RGC Resources by 16.4% during the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock valued at $4,585,000 after buying an additional 31,651 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of RGC Resources by 4.6% in the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after purchasing an additional 1,161 shares during the period. Rhumbline Advisers grew its stake in RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after purchasing an additional 497 shares in the last quarter. Renaissance Technologies LLC increased its holdings in RGC Resources by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after purchasing an additional 600 shares during the period. Finally, Fruth Investment Management raised its position in RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock valued at $295,000 after purchasing an additional 1,198 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.