Barclays PLC Boosts Holdings in RGC Resources, Inc. (NASDAQ:RGCO)

Barclays PLC grew its position in RGC Resources, Inc. (NASDAQ:RGCO) by 13.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,422 shares of the energy company’s stock after buying an additional 1,481 shares during the period. Barclays PLC’s holdings in RGC Resources were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in RGC Resources by 12.2% in the 4th quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company’s stock valued at $195,000 after buying an additional 1,055 shares during the period. JPMorgan Chase & Co. grew its stake in RGC Resources by 105.0% during the 4th 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 in the last quarter. Finally, Fruth Investment Management grew its stake in RGC Resources by 5.3% during the 4th quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock worth $276,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised RGC Resources from a “hold” rating to a “buy” rating in a research note on Friday.

RGC Resources Price Performance

Shares of RGCO opened at $21.79 on Monday. RGC Resources, Inc. has a twelve month low of $19.05 and a twelve month high of $24.20. The firm’s fifty day simple moving average is $21.13 and its 200-day simple moving average is $20.81. The firm has a market capitalization of $224.70 million, a price-to-earnings ratio of 18.62 and a beta of 0.46. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. RGC Resources had a net margin of 13.73% and a return on equity of 10.94%. The business had revenue of $36.46 million for the quarter, compared to analyst estimates of $34.00 million. Equities analysts forecast that RGC Resources, Inc. will post 1.23 EPS for the current fiscal year.

RGC Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, July 18th. RGC Resources’s payout ratio is 64.84%.

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.