RGC Resources (NASDAQ:RGCO) Shares Pass Above 200 Day Moving Average - Here's Why

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $21.68 and traded as high as $22.97. RGC Resources shares last traded at $22.69, with a volume of 12,792 shares.Get RGC Resources alerts:Analysts Set New Price TargetsRGCO has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of RGC Resources from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of RGC Resources in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold".Check Out Our Latest Stock Report on RGC ResourcesRGC Resources Price PerformanceThe stock has a market capitalization of $234.84 million, a P/E ratio of 17.73 and a beta of 0.52. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.59 and a current ratio of 1.03. The business has a fifty day simple moving average of $21.64 and a 200-day simple moving average of $21.68. RGC Resources (NASDAQ:RGCO - Get Free Report) last released its quarterly earnings data on Thursday, December 4th. The energy company reported $1.29 earnings per share for the quarter. RGC Resources had a net margin of 13.93% and a return on equity of 11.56%. During the same period last year, the company posted $1.16 earnings per share. Sell-side analysts expect that RGC Resources Inc. will post 1.23 earnings per share for the current fiscal year. RGC Resources Increases DividendThe company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 16th will be paid a $0.2175 dividend. The ex-dividend date is Friday, January 16th. This represents a $0.87 annualized dividend and a dividend yield of 3.8%. This is a boost from RGC Resources's previous quarterly dividend of $0.21. RGC Resources's dividend payout ratio (DPR) is 64.84%. Institutional Investors Weigh In On RGC ResourcesA number of hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its stake in RGC Resources by 8.2% during the 1st quarter. Russell Investments Group Ltd. now owns 194,570 shares of the energy company's stock valued at $4,061,000 after purchasing an additional 14,724 shares in the last quarter. Prospera Financial Services Inc bought a new stake in shares of RGC Resources during the second quarter worth about $3,544,000. Nuveen LLC acquired a new stake in shares of RGC Resources in the 1st quarter worth about $560,000. Los Angeles Capital Management LLC bought a new position in RGC Resources in the 2nd quarter valued at about $381,000. Finally, Creekmur Asset Management LLC bought a new position in RGC Resources in the 2nd quarter valued at about $59,000. Institutional investors and hedge funds own 35.77% of the company's stock. About RGC Resources (Get Free Report)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.Featured StoriesFive stocks we like better than RGC ResourcesFinancial Services Stocks InvestingSynopsys Sees Bullish Shift as Ansys Integration Drives GrowthShort Selling - The Pros and Cons The Best Holiday Present You Can Give Yourself? Costco StockManufacturing Stocks InvestingWhy Zscaler Stock Could Be Ready to Bounce After a 30% SelloffThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in RGC Resources Right Now?Before you consider RGC Resources, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RGC Resources wasn't on the list.While RGC Resources currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here