RGC Resources (NASDAQ:RGCO) Share Price Passes Below 200 Day Moving Average – Time to Sell?

RGC Resources, Inc. (NASDAQ:RGCO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.73 and traded as low as $19.37. RGC Resources shares last traded at $20.16, with a volume of 8,288 shares trading hands.

Analyst Upgrades and Downgrades

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

RGC Resources Stock 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’s 50-day moving average is $20.60 and its 200-day moving average is $20.73. The company has a market capitalization of $206.90 million, a PE ratio of 17.38 and a beta of 0.18.

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 paid a $0.2075 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.83 annualized dividend and a dividend yield of 4.12%. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s dividend payout ratio is presently 71.55%.

Institutional Investors Weigh In On RGC Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC raised its position in shares of RGC Resources by 16.4% in the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after purchasing an additional 31,651 shares during the last quarter. Geode Capital Management LLC increased its stake in RGC Resources by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after purchasing an additional 7,701 shares in the last quarter. State Street Corp raised its holdings in RGC Resources by 0.6% in the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after buying an additional 592 shares during the last quarter. Barclays PLC lifted its stake in shares of 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 buying an additional 7,879 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake 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 worth $590,000 after buying an additional 1,161 shares in the last quarter. 35.77% of the stock is 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.