State Street Corp Has $2.37 Million Stake in RGC Resources, Inc. (NASDAQ:RGCO)

State Street Corp raised its stake in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 104,929 shares of the energy company’s stock after purchasing an additional 592 shares during the quarter. State Street Corp owned 1.03% of RGC Resources worth $2,368,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Gabelli Funds LLC grew its position in RGC Resources by 16.4% during the second quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after buying an additional 31,651 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its position in shares of RGC Resources by 18.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock worth $3,113,000 after acquiring an additional 21,489 shares during the period. Fruth Investment Management grew its holdings in shares of RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after purchasing an additional 1,198 shares in the last quarter. Cerity Partners LLC increased its position in shares of RGC Resources by 4.6% during the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after purchasing an additional 1,161 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of RGC Resources by 1.4% in the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock valued at $888,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Stock Performance

NASDAQ RGCO opened at $20.06 on Wednesday. RGC Resources, Inc. has a twelve month low of $17.90 and a twelve month high of $24.20. 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 has a market cap of $205.88 million, a P/E ratio of 17.29 and a beta of 0.17. The company’s 50-day simple moving average is $20.71 and its 200 day simple moving average is $20.75.

RGC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 17th will be paid a $0.2075 dividend. This is a positive change from RGC Resources’s previous quarterly dividend of $0.20. This represents a $0.83 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Friday, January 17th. RGC Resources’s dividend payout ratio is currently 71.55%.

Analysts Set New Price Targets

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

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.