Gabelli Funds LLC Buys 3,800 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

Gabelli Funds LLC lifted its position in RGC Resources, Inc. (NASDAQ:RGCOFree Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,500 shares of the energy company’s stock after buying an additional 3,800 shares during the period. Gabelli Funds LLC owned approximately 1.66% of RGC Resources worth $3,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RGCO. FCA Corp TX boosted its stake in shares of RGC Resources by 21.2% in the 3rd quarter. FCA Corp TX now owns 42,204 shares of the energy company’s stock worth $730,000 after buying an additional 7,389 shares during the last quarter. Quadrature Capital Ltd boosted its stake in shares of RGC Resources by 39.0% in the 3rd quarter. Quadrature Capital Ltd now owns 16,822 shares of the energy company’s stock worth $290,000 after buying an additional 4,716 shares during the last quarter. Fruth Investment Management purchased a new position in shares of RGC Resources in the 4th quarter worth $211,000. Nisa Investment Advisors LLC purchased a new position in shares of RGC Resources in the 4th quarter worth $35,000. Finally, Keel Point LLC purchased a new position in shares of RGC Resources in the 4th quarter worth $203,000. 35.77% of the stock is currently owned by hedge funds and other institutional investors.

RGC Resources Stock Performance

RGCO stock opened at $20.25 on Friday. The company has a market cap of $206.15 million, a P/E ratio of 15.58 and a beta of 0.20. RGC Resources, Inc. has a 1 year low of $15.36 and a 1 year high of $22.53. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.31 and a quick ratio of 1.00. The stock’s fifty day moving average price is $20.42 and its 200-day moving average price is $19.85.

RGC Resources (NASDAQ:RGCOGet Free Report) last announced its earnings results on Wednesday, May 1st. The energy company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). RGC Resources had a return on equity of 12.66% and a net margin of 15.82%. The company had revenue of $32.66 million during the quarter, compared to the consensus estimate of $34.00 million. During the same period in the prior year, the business posted $0.64 earnings per share. On average, equities analysts forecast that RGC Resources, Inc. will post 1.14 earnings per share for the current year.

RGC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 17th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $0.80 dividend on an annualized basis and a yield of 3.95%. RGC Resources’s dividend payout ratio is presently 61.54%.

About RGC Resources

(Free Report)

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.

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Institutional Ownership by Quarter for RGC Resources (NASDAQ:RGCO)

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