Nisa Investment Advisors LLC Buys New Stake in RGC Resources, Inc. (NASDAQ:RGCO)

Nisa Investment Advisors LLC purchased a new stake in RGC Resources, Inc. (NASDAQ:RGCO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,700 shares of the energy company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of RGC Resources by 66.6% in the second quarter. Barclays PLC now owns 1,808 shares of the energy company’s stock worth $37,000 after buying an additional 723 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in RGC Resources in the 3rd quarter worth approximately $53,000. Watershed Asset Management L.L.C. acquired a new stake in shares of RGC Resources during the 3rd quarter worth approximately $252,000. Teton Advisors Inc. increased its holdings in shares of 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 purchasing an additional 2,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of RGC Resources in the 3rd quarter valued at $4,278,000. 35.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert B. Johnston purchased 1,715 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $18.78 per share, for a total transaction of $32,207.70. Following the completion of the transaction, the director now owns 63,005 shares of the company’s stock, valued at $1,183,233.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 2,315 shares of company stock worth $43,302 over the last quarter. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

RGC Resources Price Performance

Shares of NASDAQ RGCO opened at $19.40 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.36 and a current ratio of 0.54. The firm has a market cap of $197.10 million, a PE ratio of 14.81 and a beta of 0.22. RGC Resources, Inc. has a one year low of $15.36 and a one year high of $22.53. The firm has a fifty day moving average of $19.69 and a 200 day moving average of $18.90.

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. The business had revenue of $24.42 million during the quarter, compared to analysts’ expectations of $31.00 million. RGC Resources had a net margin of 14.75% and a return on equity of 12.89%. As a group, research analysts predict that RGC Resources, Inc. will post 1.16 EPS for the current fiscal year.

RGC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 16th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.12%. RGC Resources’s payout ratio is currently 61.07%.

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.