RGC Resources, Inc. (NASDAQ:RGCO) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lifted its holdings in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 6.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 359,700 shares of the energy company’s stock after acquiring an additional 22,400 shares during the period. Gamco Investors INC. ET AL owned 3.53% of RGC Resources worth $7,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fruth Investment Management acquired a new position in RGC Resources during the fourth quarter worth approximately $211,000. Nisa Investment Advisors LLC acquired a new position in RGC Resources during the fourth quarter worth approximately $35,000. Keel Point LLC acquired a new position in RGC Resources during the fourth quarter worth approximately $203,000. Cutter & CO Brokerage Inc. increased its position in RGC Resources by 50.6% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 123,326 shares of the energy company’s stock worth $2,508,000 after buying an additional 41,421 shares during the period. Finally, FCA Corp TX increased its position in RGC Resources by 2.4% during the fourth quarter. FCA Corp TX now owns 43,213 shares of the energy company’s stock worth $879,000 after buying an additional 1,009 shares during the period. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Stock Performance

RGCO traded up $0.05 during trading on Friday, hitting $22.09. 20,597 shares of the stock were exchanged, compared to its average volume of 25,146. The firm has a market capitalization of $224.88 million, a P/E ratio of 16.99 and a beta of 0.16. RGC Resources, Inc. has a 1-year low of $15.36 and a 1-year high of $23.70. The stock has a fifty day moving average price of $20.60 and a two-hundred day moving average price of $20.05. The company has a quick ratio of 1.00, a current ratio of 1.31 and a debt-to-equity ratio of 1.23.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $34.00 million. RGC Resources had a return on equity of 12.66% and a net margin of 15.82%. During the same period last year, the firm earned $0.64 EPS. As a group, sell-side analysts predict that RGC Resources, Inc. will post 1.14 earnings per share for the current year.

RGC Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 17th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, July 17th. RGC Resources’s payout ratio is currently 61.54%.

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.