Cutter & CO Brokerage Inc. Has $3.11 Million Stake in RGC Resources, Inc. (NASDAQ:RGCO)

Cutter & CO Brokerage Inc. grew its holdings in RGC Resources, Inc. (NASDAQ:RGCO) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,948 shares of the energy company’s stock after purchasing an additional 21,489 shares during the period. Cutter & CO Brokerage Inc. owned about 1.35% of RGC Resources worth $3,113,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in RGCO. Gabelli Funds LLC increased its holdings in RGC Resources by 14.3% in the first quarter. Gabelli Funds LLC now owns 192,555 shares of the energy company’s stock worth $3,897,000 after buying an additional 24,055 shares during the last quarter. Burke & Herbert Bank & Trust Co. acquired a new position in RGC Resources in the second quarter worth approximately $819,000. Russell Investments Group Ltd. increased its holdings in RGC Resources by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock worth $3,674,000 after buying an additional 36,685 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in RGC Resources by 62.0% in the first quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock worth $81,000 after buying an additional 1,535 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in RGC Resources by 1.0% in the first quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after buying an additional 4,202 shares during the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Stock Performance

RGC Resources stock traded down $0.20 during trading hours on Tuesday, reaching $20.15. 207 shares of the company were exchanged, compared to its average volume of 13,574. The firm has a market cap of $205.93 million, a price-to-earnings ratio of 16.12 and a beta of 0.16. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average of $20.88 and a 200 day moving average of $20.64. RGC Resources, Inc. has a 12 month low of $15.45 and a 12 month high of $23.70.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Monday, August 5th. The energy company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). RGC Resources had a return on equity of 11.93% and a net margin of 15.04%. The firm had revenue of $14.46 million during the quarter, compared to the consensus estimate of $14.00 million. During the same period last year, the business earned $0.07 earnings per share. As a group, research analysts anticipate that RGC Resources, Inc. will post 1.14 earnings per share for the current year.

RGC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.20 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.97%. RGC Resources’s dividend payout ratio (DPR) is presently 64.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded RGC Resources from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

RGC Resources 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.