Russell Investments Group Ltd. Has $4.06 Million Stock Position in RGC Resources Inc. $RGCO

Key Points

• Russell Investments Group Ltd. increased its stake in RGC Resources Inc. by 8.2% in the first quarter, owning about 1.89% of the company worth approximately $4 million.
• RGC Resources reported earnings of $0.05 per share for the last quarter, exceeding analyst expectations of $0.02, with revenues of $17.27 million compared to expectations of $15 million.
• Wall Street Zen downgraded RGC Resources from a "buy" rating to a "hold" rating on August 16th, signaling caution among analysts following the earnings report.

Russell Investments Group Ltd. grew its stake in shares of RGC Resources Inc. (NASDAQ:RGCO - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,570 shares of the energy company's stock after acquiring an additional 14,724 shares during the period. Russell Investments Group Ltd. owned 1.89% of RGC Resources worth $4,061,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RGCO. Tower Research Capital LLC TRC lifted its position in RGC Resources by 293.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,275 shares of the energy company's stock worth $26,000 after acquiring an additional 951 shares during the last quarter. GAMMA Investing LLC lifted its position in RGC Resources by 5,110.7% during the first quarter. GAMMA Investing LLC now owns 7,764 shares of the energy company's stock worth $162,000 after acquiring an additional 7,615 shares during the last quarter. Wells Fargo & Company MN lifted 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 acquiring an additional 1,055 shares during the last quarter. Deutsche Bank AG acquired a new stake in RGC Resources during the fourth quarter worth approximately $224,000. Finally, Price T Rowe Associates Inc. MD lifted its position in RGC Resources by 6.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,454 shares of the energy company's stock worth $230,000 after acquiring an additional 680 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

RGC Resources Price Performance

Shares of NASDAQ RGCO traded down $0.07 during midday trading on Thursday, reaching $22.17. The company's stock had a trading volume of 18,410 shares, compared to its average volume of 19,662. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.66 and a current ratio of 1.04. RGC Resources Inc. has a fifty-two week low of $19.06 and a fifty-two week high of $24.20. The business's 50 day moving average price is $21.77 and its two-hundred day moving average price is $21.23. The company has a market cap of $229.02 million, a P/E ratio of 16.92 and a beta of 0.46.

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

RGC Resources Company 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.