RGC Resources, Inc. (NASDAQ:RGCO) Stake Boosted by Gabelli Funds LLC

Gabelli Funds LLC grew its stake in shares of RGC Resources, Inc. (NASDAQ:RGCOFree Report) by 54.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 164,700 shares of the energy company’s stock after buying an additional 57,930 shares during the period. Gabelli Funds LLC owned approximately 1.65% of RGC Resources worth $2,849,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. raised its position in RGC Resources by 728.6% in the second quarter. BlackRock Inc. now owns 372,071 shares of the energy company’s stock worth $7,453,000 after purchasing an additional 327,167 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in RGC Resources in the third quarter worth about $4,278,000. Geode Capital Management LLC raised its position 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 worth $3,110,000 after purchasing an additional 84,749 shares in the last quarter. State Street Corp raised its position in RGC Resources by 288.5% in the second quarter. State Street Corp now owns 85,347 shares of the energy company’s stock worth $1,710,000 after purchasing an additional 63,379 shares in the last quarter. Finally, Northern Trust Corp raised its position in RGC Resources by 281.7% in the second quarter. Northern Trust Corp now owns 67,657 shares of the energy company’s stock worth $1,355,000 after purchasing an additional 49,933 shares in the last quarter.

RGC Resources Price Performance

Shares of RGC Resources stock opened at $19.35 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.42 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $196.60 million, a price-to-earnings ratio of 14.77 and a beta of 0.22. RGC Resources, Inc. has a 1-year low of $15.36 and a 1-year high of $24.47. The firm’s 50-day moving average price is $19.82 and its two-hundred day moving average price is $18.43.

RGC Resources (NASDAQ:RGCOGet Free Report) last issued its quarterly earnings data on Monday, November 20th. The energy company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.12. The firm had revenue of $12.47 million for 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, equities analysts predict that RGC Resources, Inc. will post 1.16 earnings per share for the current fiscal year.

RGC Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 16th will be paid 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 yield of 4.13%. RGC Resources’s dividend payout ratio is 61.07%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RGCO shares. StockNews.com raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. TheStreet raised shares of RGC Resources from a “c” rating to a “b-” rating in a research report on Tuesday.

Read Our Latest Analysis on RGC Resources

RGC Resources Profile

(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.

Further Reading

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

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