NewEdge Advisors LLC Has $58,000 Stake in RGC Resources, Inc. (NASDAQ:RGCO)

NewEdge Advisors LLC decreased its holdings in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 37.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,875 shares of the energy company’s stock after selling 1,700 shares during the period. NewEdge Advisors LLC’s holdings in RGC Resources were worth $58,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in RGC Resources by 105.0% in the fourth quarter. JPMorgan Chase & Co. now owns 30,129 shares of the energy company’s stock valued at $604,000 after acquiring an additional 15,434 shares during the period. Gamco Investors INC. ET AL grew its stake in RGC Resources by 3.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 405,700 shares of the energy company’s stock valued at $8,138,000 after purchasing an additional 12,300 shares during the period. Barclays PLC increased its holdings in RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after buying an additional 7,879 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of RGC Resources by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after purchasing an additional 7,701 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in RGC Resources by 12.2% in the fourth quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company’s stock worth $195,000 after buying an additional 1,055 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th.

RGC Resources Price Performance

RGCO stock opened at $21.70 on Friday. RGC Resources, Inc. has a 12 month low of $19.05 and a 12 month 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 firm has a market capitalization of $223.44 million, a P/E ratio of 18.55 and a beta of 0.31. The firm has a 50 day moving average of $20.99 and a 200-day moving average of $20.78.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. As a group, sell-side analysts predict that RGC Resources, Inc. will post 1.23 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 3.82%. The ex-dividend date is Friday, July 18th. RGC Resources’s dividend payout ratio (DPR) is currently 70.94%.

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.