RGC Resources (NASDAQ:RGCO) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

RGC Resources, Inc. (NASDAQ:RGCO) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.78 and traded as high as $21.00. RGC Resources shares last traded at $19.82, with a volume of 19,245 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.

RGC Resources Trading Up 3.1 %

The company has a 50 day moving average of $20.83 and a two-hundred day moving average of $20.77. 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 stock has a market capitalization of $207.93 million, a PE ratio of 17.47 and a beta of 0.17.

RGC Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.10%. RGC Resources’s payout ratio is presently 71.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC grew its holdings in shares of RGC Resources by 16.4% during the second 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 during the last quarter. Geode Capital Management LLC grew 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 during the last quarter. Cutter & CO Brokerage Inc. grew its stake in RGC Resources by 18.5% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after purchasing an additional 21,489 shares during the last quarter. State Street Corp increased its holdings in shares of RGC Resources by 0.6% in the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after purchasing an additional 592 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of RGC Resources by 1.4% in the second 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 last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

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.