Keel Point LLC Makes New Investment in RGC Resources, Inc. (NASDAQ:RGCO)

Keel Point LLC acquired a new stake in RGC Resources, Inc. (NASDAQ:RGCO) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,000 shares of the energy company’s stock, valued at approximately $203,000.

A number of other hedge funds have also modified their holdings of RGCO. Vanguard Group Inc. grew its position in RGC Resources by 43.8% in the third quarter. Vanguard Group Inc. now owns 580,328 shares of the energy company’s stock valued at $10,040,000 after acquiring an additional 176,731 shares during the period. BlackRock Inc. grew its stake in RGC Resources by 728.6% during the second quarter. BlackRock Inc. now owns 372,071 shares of the energy company’s stock worth $7,453,000 after buying an additional 327,167 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of RGC Resources by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 349,037 shares of the energy company’s stock worth $6,038,000 after buying an additional 1,500 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of RGC Resources in the third quarter valued at approximately $4,278,000. Finally, Gabelli Funds LLC increased its holdings in RGC Resources by 54.3% during the 3rd quarter. Gabelli Funds LLC now owns 164,700 shares of the energy company’s stock valued at $2,849,000 after purchasing an additional 57,930 shares in the last quarter. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Price Performance

NASDAQ RGCO opened at $19.27 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.36 and a current ratio of 0.54. RGC Resources, Inc. has a 52-week low of $15.36 and a 52-week high of $22.53. The business has a 50 day simple moving average of $19.70 and a 200 day simple moving average of $18.83. The stock has a market cap of $195.78 million, a price-to-earnings ratio of 14.71 and a beta of 0.22.

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

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Tuesday, April 16th will be issued 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 4.15%. RGC Resources’s dividend payout ratio (DPR) is 61.07%.

Wall Street Analyst Weigh In

RGCO has been the topic of a number of recent analyst reports. StockNews.com raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research report on Thursday, December 28th. TheStreet upgraded RGC Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 6th.

Insider Transactions at RGC Resources

In other news, Director Robert B. Johnston purchased 1,715 shares of RGC Resources stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $18.78 per share, with a total value of $32,207.70. Following the transaction, the director now directly owns 63,005 shares in the company, valued at approximately $1,183,233.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought 2,315 shares of company stock valued at $43,302 over the last three months. Company insiders own 6.00% of the company’s stock.

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.