Ancora Advisors LLC bought a new position in shares of RGC Resources Inc. (NASDAQ:RGCO - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 136,893 shares of the energy company's stock, valued at approximately $3,272,000. Ancora Advisors LLC owned 1.31% of RGC Resources as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in RGC Resources by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company's stock valued at $4,441,000 after purchasing an additional 1,701 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in RGC Resources by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company's stock worth $9,028,000 after buying an additional 2,486 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of RGC Resources by 440.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company's stock valued at $63,000 after buying an additional 2,299 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company's stock valued at $36,000 after buying an additional 1,068 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of RGC Resources by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company's stock valued at $284,000 after buying an additional 2,502 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts recently weighed in on RGCO shares. Wall Street Zen cut shares of RGC Resources from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of RGC Resources in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy".
Check Out Our Latest Research Report on RGCO
RGC Resources Price Performance
Shares of NASDAQ RGCO opened at $21.99 on Thursday. The company has a market capitalization of $229.14 million, a PE ratio of 16.41 and a beta of 0.51. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 1.19. The stock's 50 day moving average price is $23.06 and its 200-day moving average price is $22.61. RGC Resources Inc. has a twelve month low of $20.55 and a twelve month high of $27.99.
RGC Resources (NASDAQ:RGCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). RGC Resources had a net margin of 13.05% and a return on equity of 11.73%. The business had revenue of $17.11 million for the quarter, compared to analysts' expectations of $18.19 million.
RGC Resources Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were given a dividend of $0.2175 per share. The ex-dividend date was Friday, July 17th. This represents a $0.87 annualized dividend and a yield of 4.0%. RGC Resources's dividend payout ratio is presently 64.93%.
About RGC Resources
(
Free Report)
RGC Resources, Inc NASDAQ: RGCO is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.
The company operates two primary business segments: distribution and transmission.
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