Cary Street Partners Financial LLC Purchases Shares of 33,277 RGC Resources, Inc. (NASDAQ:RGCO)

Cary Street Partners Financial LLC bought a new stake in RGC Resources, Inc. (NASDAQ:RGCO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 33,277 shares of the energy company's stock, valued at approximately $668,000. Cary Street Partners Financial LLC owned approximately 0.32% of RGC Resources as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of RGC Resources by 105.0% during the fourth quarter. JPMorgan Chase & Co. now owns 30,129 shares of the energy company's stock worth $604,000 after acquiring an additional 15,434 shares during the period. Barclays PLC increased its stake in shares of 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 acquiring an additional 7,879 shares during the period. Gamco Investors INC. ET AL grew its position in RGC Resources by 3.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 405,700 shares of the energy company's stock worth $8,138,000 after buying an additional 12,300 shares during the period. Wells Fargo & Company MN grew its position in RGC Resources by 12.2% during 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 period. Finally, Fruth Investment Management grew its position in 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 buying an additional 700 shares during the period. 35.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of RGC Resources from a "hold" rating to a "buy" rating in a research report on Friday, May 9th.

RGC Resources Price Performance

RGCO traded down $0.18 on Wednesday, hitting $20.80. 5,297 shares of the company were exchanged, compared to its average volume of 12,205. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56. The business's fifty day moving average is $21.17 and its 200 day moving average is $20.82. RGC Resources, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $24.20. The firm has a market capitalization of $214.49 million, a P/E ratio of 17.78 and a beta of 0.46.

RGC Resources (NASDAQ:RGCO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. RGC Resources had a net margin of 13.73% and a return on equity of 10.94%. The company had revenue of $36.46 million for the quarter, compared to analyst estimates of $34.00 million. As a group, sell-side analysts anticipate that RGC Resources, Inc. will post 1.23 EPS for the current year.

RGC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, July 18th. RGC Resources's dividend payout ratio (DPR) is presently 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.