Cutter & CO Brokerage Inc. Raises Stake in RGC Resources, Inc. (NASDAQ:RGCO)

Cutter & CO Brokerage Inc. increased its stake in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 50.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 123,326 shares of the energy company’s stock after purchasing an additional 41,421 shares during the period. Cutter & CO Brokerage Inc. owned 1.23% of RGC Resources worth $2,508,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RGCO. Barclays PLC increased its stake in RGC Resources by 66.6% in the 2nd quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock worth $37,000 after acquiring an additional 723 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of RGC Resources during the 3rd quarter valued at about $53,000. Watershed Asset Management L.L.C. purchased a new stake in RGC Resources during the 3rd quarter valued at about $252,000. Teton Advisors Inc. boosted its holdings in RGC Resources by 2.4% during the 3rd quarter. Teton Advisors Inc. now owns 86,010 shares of the energy company’s stock valued at $1,488,000 after acquiring an additional 2,000 shares during the period. Finally, Gamco Investors INC. ET AL purchased a new stake in RGC Resources during the 3rd quarter valued at about $4,278,000. Hedge funds and other institutional investors own 35.77% of the company’s stock.

RGC Resources Stock Up 3.0 %

Shares of NASDAQ RGCO traded up $0.58 during trading on Tuesday, reaching $19.98. The company had a trading volume of 14,966 shares, compared to its average volume of 16,982. RGC Resources, Inc. has a 12-month low of $15.36 and a 12-month high of $22.53. The stock has a market cap of $203.00 million, a PE ratio of 14.81 and a beta of 0.22. The business’s 50-day moving average is $19.69 and its 200 day moving average is $18.90. The company has a quick ratio of 0.36, a current ratio of 0.54 and a debt-to-equity ratio of 0.99.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Monday, February 5th. The energy company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. RGC Resources had a return on equity of 12.89% and a net margin of 14.75%. The firm had revenue of $24.42 million for the quarter, compared to analysts’ expectations of $31.00 million. As a group, equities analysts forecast that RGC Resources, Inc. will post 1.16 earnings per share for the current fiscal year.

RGC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Tuesday, April 16th will be paid a $0.20 dividend. The ex-dividend date is Monday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.00%. RGC Resources’s dividend payout ratio is currently 61.07%.

Insider Activity

In other RGC Resources news, Director Robert B. Johnston purchased 1,715 shares of the stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $18.78 per share, with a total value of $32,207.70. Following the completion of the acquisition, the director now directly owns 63,005 shares in the company, valued at approximately $1,183,233.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 2,315 shares of company stock valued at $43,302 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TheStreet raised RGC Resources from a “c” rating to a “b-” rating in a research note on Tuesday, February 6th. StockNews.com raised RGC Resources from a “sell” rating to a “hold” rating in a research note on Thursday, December 28th.

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.