Nuveen LLC Invests $560,000 in RGC Resources Inc. $RGCO

Key Points

• Nuveen LLC has acquired a new position in RGC Resources Inc. by purchasing 26,812 shares, valued at approximately $560,000, representing about 0.26% ownership of the company.
• Several institutional investors, including Tower Research Capital LLC and GAMMA Investing LLC, have significantly increased their stakes in RGC Resources, with GAMMA raising its position by 5,110.7%.
• RGC Resources recently reported a quarterly earnings per share (EPS) of $0.05, surpassing analysts' expectations of $0.02, alongside a revenue of $17.27 million, which also exceeded forecasts.

Nuveen LLC bought a new position in RGC Resources Inc. (NASDAQ:RGCO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,812 shares of the energy company's stock, valued at approximately $560,000. Nuveen LLC owned about 0.26% of RGC Resources as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. Cutter & CO Brokerage Inc. raised its holdings in RGC Resources by 7.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 147,854 shares of the energy company's stock worth $3,086,000 after buying an additional 10,857 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in RGC Resources by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 120,400 shares of the energy company's stock worth $2,415,000 after buying an additional 3,684 shares during the last quarter. Northern Trust Corp raised its holdings in RGC Resources by 4.2% in the fourth quarter. Northern Trust Corp now owns 72,653 shares of the energy company's stock worth $1,457,000 after buying an additional 2,918 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in RGC Resources in the fourth quarter worth about $668,000. Finally, Barclays PLC raised its holdings in RGC Resources by 13.5% in the fourth quarter. Barclays PLC now owns 12,422 shares of the energy company's stock worth $249,000 after buying an additional 1,481 shares during the last quarter. 35.77% of the stock is owned by hedge funds and other institutional investors.

RGC Resources Stock Performance

NASDAQ RGCO traded down $0.02 during trading hours on Tuesday, hitting $21.99. 1,833 shares of the company's stock traded hands, compared to its average volume of 14,339. The business's fifty day moving average price is $21.79 and its two-hundred day moving average price is $21.31. The company has a current ratio of 1.04, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $227.02 million, a P/E ratio of 16.78 and a beta of 0.48. RGC Resources Inc. has a 52 week low of $19.06 and a 52 week high of $24.20.

RGC Resources (NASDAQ:RGCO - Get Free Report) last announced its earnings results on Monday, August 11th. The energy company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $17.27 million during the quarter, compared to analyst estimates of $15.00 million. RGC Resources had a net margin of 14.48% and a return on equity of 12.01%. Equities research analysts predict that RGC Resources Inc. will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of RGC Resources from a "buy" rating to a "hold" rating in a report on Saturday, August 16th.

RGC Resources Profile

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.