Rhumbline Advisers bought a new position in shares of RGC Resources Inc. (NASDAQ:RGCO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,422 shares of the energy company’s stock, valued at approximately $312,000. Rhumbline Advisers owned 0.13% of RGC Resources at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of RGC Resources by 59.6% in the second quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock valued at $207,000 after purchasing an additional 2,650 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of RGC Resources in the third quarter valued at approximately $296,000. Captrust Financial Advisors grew its holdings in shares of RGC Resources by 1,902.2% in the third quarter. Captrust Financial Advisors now owns 36,040 shares of the energy company’s stock valued at $963,000 after purchasing an additional 34,240 shares in the last quarter. North Star Investment Management Corp. grew its holdings in shares of RGC Resources by 4.4% in the fourth quarter. North Star Investment Management Corp. now owns 71,387 shares of the energy company’s stock valued at $2,139,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of RGC Resources by 3.5% in the second quarter. Northern Trust Corp now owns 81,927 shares of the energy company’s stock valued at $2,390,000 after purchasing an additional 2,762 shares in the last quarter.

In other RGC Resources news, COO C James Shockley, Jr. sold 1,469 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $28.00, for a total transaction of $41,132.00. Following the completion of the transaction, the chief operating officer now owns 8,297 shares in the company, valued at approximately $232,316. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Orazio John S. D sold 1,713 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $28.00, for a total transaction of $47,964.00. Following the transaction, the chief executive officer now owns 44,988 shares of the company’s stock, valued at approximately $1,259,664. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 156 shares of company stock valued at $4,487 and have sold 8,599 shares valued at $240,847. Insiders own 7.30% of the company’s stock.

NASDAQ RGCO opened at $26.68 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.15 and a debt-to-equity ratio of 1.10. RGC Resources Inc. has a 52 week low of $23.55 and a 52 week high of $31.33. The company has a market cap of $214.05 million, a price-to-earnings ratio of 28.08 and a beta of -0.36.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Monday, February 4th. The energy company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). RGC Resources had a return on equity of 9.61% and a net margin of 11.28%. The firm had revenue of $21.22 million for the quarter, compared to analyst estimates of $19.15 million. As a group, research analysts expect that RGC Resources Inc. will post 1.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, April 12th. RGC Resources’s dividend payout ratio (DPR) is presently 32.63%.

Separately, Zacks Investment Research cut shares of RGC Resources from a “hold” rating to a “sell” rating in a report on Saturday, March 16th.

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RGC Resources Company Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

Further Reading: What Factors Can Affect Return on Equity?

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Institutional Ownership by Quarter for RGC Resources (NASDAQ:RGCO)

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