RGC Resources (NASDAQ:RGCO) Shares Pass Above 200 Day Moving Average – Time to Sell?

RGC Resources, Inc. (NASDAQ:RGCO) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $20.71 and traded as high as $21.06. RGC Resources shares last traded at $20.78, with a volume of 9,831 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded RGC Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th.

RGC Resources Stock Up 0.9 %

The company has a market capitalization of $213.97 million, a PE ratio of 17.76 and a beta of 0.25. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.56 and a quick ratio of 0.41. The company has a 50-day moving average of $20.61 and a two-hundred day moving average of $20.71.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. Sell-side analysts anticipate that RGC Resources, Inc. will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RGC Resources

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of RGC Resources by 4.1% in the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after acquiring an additional 7,701 shares in 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 worth $2,368,000 after acquiring an additional 592 shares during the period. Barclays PLC boosted 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 acquiring an additional 7,879 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of RGC Resources by 267.6% in the third quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock worth $332,000 after acquiring an additional 10,697 shares during the period. Finally, Cerity Partners LLC boosted 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 acquiring an additional 1,161 shares during the period. 35.77% of the stock is currently owned by hedge funds and other 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.