Gamco Investors INC. ET AL Has $7.28 Million Stock Holdings in RGC Resources, Inc. (NASDAQ:RGCO)

Gamco Investors INC. ET AL increased its position in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 6.6% during the first quarter, Holdings Channel reports. The institutional investor owned 359,700 shares of the energy company’s stock after purchasing an additional 22,400 shares during the quarter. Gamco Investors INC. ET AL’s holdings in RGC Resources were worth $7,280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RGCO. Cutter & CO Brokerage Inc. boosted its holdings in RGC Resources by 50.6% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 123,326 shares of the energy company’s stock valued at $2,508,000 after purchasing an additional 41,421 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in RGC Resources by 25.3% during the first quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock valued at $3,674,000 after purchasing an additional 36,685 shares in the last quarter. Fruth Investment Management acquired a new stake in RGC Resources during the fourth quarter valued at approximately $211,000. Nisa Investment Advisors LLC acquired a new stake in RGC Resources during the fourth quarter valued at approximately $35,000. Finally, FCA Corp TX boosted its holdings in RGC Resources by 2.4% during the fourth quarter. FCA Corp TX now owns 43,213 shares of the energy company’s stock valued at $879,000 after purchasing an additional 1,009 shares in the last quarter. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Price Performance

NASDAQ RGCO traded up $0.05 during trading on Friday, reaching $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 stock’s 50 day moving average price is $20.60 and its two-hundred day moving average price is $20.05. The company has a market cap of $224.88 million, a price-to-earnings ratio of 16.99 and a beta of 0.16. RGC Resources, Inc. has a 1-year low of $15.36 and a 1-year high of $23.70.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.02). The company had revenue of $32.66 million for the quarter, compared to analyst estimates of $34.00 million. RGC Resources had a net margin of 15.82% and a return on equity of 12.66%. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, analysts anticipate that RGC Resources, Inc. will post 1.14 EPS for the current year.

RGC Resources Announces Dividend

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

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.