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

Shares of RGC Resources, Inc. (NASDAQ:RGCO - Get Free Report) passed 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 changing hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded RGC Resources from a "hold" rating to a "sell" rating in a report on Thursday.

RGC Resources Stock Performance

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52. The company's fifty day moving average price is $20.86 and its 200 day moving average price is $20.78. The company has a market cap of $201.77 million, a PE ratio of 16.95 and a beta of 0.17.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 17th will be paid a $0.2075 dividend. 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 annualized dividend and a yield of 4.22%. RGC Resources's dividend payout ratio (DPR) is 71.55%.

Hedge Funds Weigh In On RGC Resources

A number of hedge funds and other institutional investors have recently modified their holdings of RGCO. Gabelli Funds LLC lifted its holdings in RGC Resources by 16.4% during the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company's stock worth $4,585,000 after acquiring an additional 31,651 shares during the period. Cerity Partners LLC increased its position in shares of RGC Resources by 4.6% during the 3rd 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 last quarter. Rhumbline Advisers increased its position in shares of RGC Resources by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company's stock valued at $191,000 after purchasing an additional 497 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 boosted its holdings in shares of RGC Resources by 10.1% in the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company's stock worth $295,000 after buying an additional 1,198 shares during the last quarter. Hedge funds and other institutional investors own 35.77% of the company's stock.

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.