Russell Investments Group Ltd. Lowers Holdings in RGC Resources, Inc. (NASDAQ:RGCO)

Russell Investments Group Ltd. lowered its stake in RGC Resources, Inc. (NASDAQ:RGCO - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,846 shares of the energy company's stock after selling 11,660 shares during the quarter. Russell Investments Group Ltd. owned 1.75% of RGC Resources worth $3,608,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RGCO. Wells Fargo & Company MN boosted its stake in shares of RGC Resources by 12.2% in the 4th quarter. Wells Fargo & Company MN now owns 9,719 shares of the energy company's stock worth $195,000 after buying an additional 1,055 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in RGC Resources by 105.0% in the fourth quarter. JPMorgan Chase & Co. now owns 30,129 shares of the energy company's stock valued at $604,000 after acquiring an additional 15,434 shares during the period. Fruth Investment Management boosted its position in RGC Resources by 5.3% in the fourth quarter. Fruth Investment Management now owns 13,800 shares of the energy company's stock worth $276,000 after purchasing an additional 700 shares during the last quarter. Barclays PLC grew its stake in shares of RGC Resources by 257.3% during the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company's stock valued at $247,000 after purchasing an additional 7,879 shares during the period. Finally, Geode Capital Management LLC grew its position in RGC Resources by 4.1% during the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company's stock valued at $4,429,000 after buying an additional 7,701 shares during the period. Institutional investors own 35.77% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of RGC Resources from a "sell" rating to a "hold" rating in a research note on Tuesday, February 18th.

RGC Resources Price Performance

RGCO traded up $0.58 during trading on Tuesday, hitting $21.43. The company's stock had a trading volume of 12,704 shares, compared to its average volume of 12,170. RGC Resources, Inc. has a twelve month low of $19.05 and a twelve month high of $24.20. The firm has a market capitalization of $220.66 million, a price-to-earnings ratio of 18.32 and a beta of 0.31. The business's fifty day simple moving average is $20.93 and its 200 day simple moving average is $20.77. 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 - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The energy company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. RGC Resources had a net margin of 13.73% and a return on equity of 10.94%. On average, equities research analysts forecast that RGC Resources, Inc. will post 1.23 EPS for the current fiscal year.

RGC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 17th will be issued a $0.2075 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.83 annualized dividend and a dividend yield of 3.87%. RGC Resources's dividend payout ratio is presently 70.94%.

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.