RGC Resources (NASDAQ:RGCO) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

RGC Resources, Inc. (NASDAQ:RGCO)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

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

RGC Resources Stock Down 3.5 %

The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. The stock’s fifty day moving average price is $20.71 and its 200-day moving average price is $20.76. The company has a market capitalization of $201.36 million, a price-to-earnings ratio of 16.91 and a beta of 0.17.

RGC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, January 17th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s dividend payout ratio is presently 71.55%.

Institutional Trading of RGC Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGCO. Rhumbline Advisers lifted its position in shares of RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after buying an additional 497 shares during the last quarter. State Street Corp boosted its stake 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 buying an additional 592 shares during the period. Renaissance Technologies LLC grew its holdings 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 in the last quarter. Cerity Partners LLC grew its stake in RGC Resources by 4.6% during 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. Finally, Fruth Investment Management raised its position 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 valued at $295,000 after buying an additional 1,198 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.