Russell Investments Group Ltd. Purchases 14,724 Shares of RGC Resources Inc. $RGCO

Russell Investments Group Ltd. lifted its position in RGC Resources Inc. (NASDAQ:RGCO) by 8.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 194,570 shares of the energy company’s stock after purchasing an additional 14,724 shares during the quarter. Russell Investments Group Ltd.’s holdings in RGC Resources were worth $4,061,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of RGC Resources by 105.0% in the fourth quarter. JPMorgan Chase & Co. now owns 30,129 shares of the energy company’s stock worth $604,000 after purchasing an additional 15,434 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in RGC Resources during the fourth quarter worth approximately $668,000. GAMMA Investing LLC increased its stake 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. Northern Trust Corp increased its stake in RGC Resources by 4.2% during the fourth quarter. Northern Trust Corp now owns 72,653 shares of the energy company’s stock worth $1,457,000 after acquiring an additional 2,918 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in RGC Resources during the fourth quarter worth approximately $224,000. 35.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut RGC Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th.

RGC Resources Trading Up 5.2%

RGCO opened at $23.09 on Friday. The stock has a market cap of $238.52 million, a price-to-earnings ratio of 17.63 and a beta of 0.46. The stock’s 50 day moving average price is $21.65 and its 200-day moving average price is $21.20. RGC Resources Inc. has a one year low of $19.06 and a one year high of $24.20. 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 (NASDAQ:RGCO) last released its earnings results on Monday, August 11th. The energy company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $17.27 million for the quarter, compared to analysts’ expectations of $15.00 million. RGC Resources had a return on equity of 12.01% and a net margin of 14.48%. On average, equities analysts forecast that RGC Resources Inc. will post 1.23 EPS for the current year.

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.