Bank of New York Mellon Corp Decreases Holdings in RGC Resources, Inc. (NASDAQ:RGCO)

Bank of New York Mellon Corp lessened its stake in shares of RGC Resources, Inc. (NASDAQ:RGCOFree Report) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,371 shares of the energy company’s stock after selling 6,507 shares during the period. Bank of New York Mellon Corp owned 0.58% of RGC Resources worth $1,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RGCO. BlackRock Inc. boosted its stake in shares of RGC Resources by 728.6% during the second quarter. BlackRock Inc. now owns 372,071 shares of the energy company’s stock valued at $7,453,000 after purchasing an additional 327,167 shares in the last quarter. Geode Capital Management LLC boosted its stake in RGC Resources by 120.2% in the second quarter. Geode Capital Management LLC now owns 155,281 shares of the energy company’s stock valued at $3,110,000 after acquiring an additional 84,749 shares in the last quarter. State Street Corp boosted its stake in RGC Resources by 288.5% in the second quarter. State Street Corp now owns 85,347 shares of the energy company’s stock valued at $1,710,000 after acquiring an additional 63,379 shares in the last quarter. Northern Trust Corp boosted its stake in RGC Resources by 281.7% in the second quarter. Northern Trust Corp now owns 67,657 shares of the energy company’s stock valued at $1,355,000 after acquiring an additional 49,933 shares in the last quarter. Finally, Teton Advisors Inc. boosted its stake in RGC Resources by 58.5% in the second quarter. Teton Advisors Inc. now owns 84,010 shares of the energy company’s stock valued at $1,683,000 after acquiring an additional 31,000 shares in the last quarter.

RGC Resources Trading Up 3.3 %

NASDAQ RGCO opened at $19.35 on Friday. The company has a fifty day simple moving average of $19.82 and a two-hundred day simple moving average of $18.43. The stock has a market cap of $196.60 million, a P/E ratio of 14.77 and a beta of 0.22. RGC Resources, Inc. has a 12-month low of $15.36 and a 12-month high of $24.47. The company has a current ratio of 0.54, a quick ratio of 0.42 and a debt-to-equity ratio of 0.99.

RGC Resources (NASDAQ:RGCOGet Free Report) last posted its quarterly earnings results on Monday, November 20th. The energy company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.12. The business had revenue of $12.47 million during the quarter, compared to analysts’ expectations of $15.00 million. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. On average, analysts forecast that RGC Resources, Inc. will post 1.16 earnings per share for the current year.

RGC Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Tuesday, April 16th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.13%. RGC Resources’s dividend payout ratio (DPR) is presently 61.07%.

Analysts Set New Price Targets

RGCO has been the subject of several recent analyst reports. TheStreet upgraded shares of RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday. StockNews.com raised shares of RGC Resources from a “sell” rating to a “hold” rating in a report on Thursday, December 28th.

Get Our Latest Research Report on RGCO

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.

See Also

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

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