Gabelli Funds LLC Purchases 24,055 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

Gabelli Funds LLC raised its position in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 14.3% during the first quarter, HoldingsChannel.com reports. The fund owned 192,555 shares of the energy company’s stock after buying an additional 24,055 shares during the quarter. Gabelli Funds LLC’s holdings in RGC Resources were worth $3,897,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RGCO. Teton Advisors Inc. grew its position in shares of RGC Resources by 1.2% during the 1st quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company’s stock worth $1,761,000 after buying an additional 1,000 shares during the period. FCA Corp TX boosted its stake in RGC Resources by 2.4% during the fourth quarter. FCA Corp TX now owns 43,213 shares of the energy company’s stock worth $879,000 after acquiring an additional 1,009 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in RGC Resources by 62.0% during the first quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock worth $81,000 after acquiring an additional 1,535 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in RGC Resources in the fourth quarter worth $35,000. Finally, Vanguard Group Inc. increased its stake in RGC Resources by 1.0% in the first quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock valued at $8,861,000 after purchasing an additional 4,202 shares in the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

RGC Resources Stock Up 0.2 %

Shares of NASDAQ RGCO traded up $0.05 during trading on Friday, hitting $22.09. 20,597 shares of the company traded hands, compared to its average volume of 25,146. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.00 and a current ratio of 1.31. The business’s fifty day moving average is $20.60 and its 200 day moving average is $20.04. The firm has a market capitalization of $224.90 million, a price-to-earnings ratio of 16.99 and a beta of 0.16. RGC Resources, Inc. has a fifty-two week low of $15.36 and a fifty-two week high of $23.70.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). RGC Resources had a return on equity of 12.66% and a net margin of 15.82%. The firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $34.00 million. During the same quarter in the previous year, the company posted $0.64 EPS. Equities research analysts predict that RGC Resources, Inc. will post 1.14 earnings per share for the current fiscal year.

RGC Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, July 17th. RGC Resources’s payout ratio is currently 61.54%.

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.