Deutsche Bank AG Acquires New Shares in RGC Resources, Inc. (NASDAQ:RGCO)

Deutsche Bank AG purchased a new position in shares of RGC Resources, Inc. (NASDAQ:RGCO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,181 shares of the energy company’s stock, valued at approximately $224,000. Deutsche Bank AG owned 0.11% of RGC Resources as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in RGC Resources by 293.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company’s stock worth $26,000 after acquiring an additional 951 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of RGC Resources by 12.2% in the fourth quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company’s stock valued at $195,000 after buying an additional 1,055 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of RGC Resources by 6.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,454 shares of the energy company’s stock valued at $230,000 after buying an additional 680 shares during the period. Barclays PLC lifted its holdings in shares of RGC Resources by 13.5% in the fourth quarter. Barclays PLC now owns 12,422 shares of the energy company’s stock valued at $249,000 after buying an additional 1,481 shares during the period. Finally, Fruth Investment Management raised its position in shares of RGC Resources by 5.3% during the fourth quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock worth $276,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 35.77% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised RGC Resources from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th.

RGC Resources Stock Down 0.4%

NASDAQ:RGCO opened at $20.46 on Tuesday. The firm has a market capitalization of $210.98 million, a price-to-earnings ratio of 17.49 and a beta of 0.46. RGC Resources, Inc. has a 1-year low of $19.05 and a 1-year high of $24.20. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00. The business’s fifty day moving average price is $21.29 and its 200 day moving average price is $20.80.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.06. The firm had revenue of $36.46 million for the quarter, compared to analyst estimates of $34.00 million. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. On average, sell-side analysts forecast that RGC Resources, Inc. will post 1.23 earnings per share for the current fiscal year.

RGC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, July 18th. RGC Resources’s payout ratio is 64.84%.

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.