RGC Resources, Inc. (NASDAQ:RGCO) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its stake in RGC Resources, Inc. (NASDAQ:RGCO) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,654 shares of the energy company’s stock after selling 1,500 shares during the period. Hennessy Advisors Inc. owned 0.15% of RGC Resources worth $317,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Gabelli Funds LLC raised its holdings in shares of RGC Resources by 2.3% during the fourth quarter. Gabelli Funds LLC now owns 168,500 shares of the energy company’s stock worth $3,427,000 after purchasing an additional 3,800 shares during the period. Cutter & CO Brokerage Inc. raised its holdings in shares of RGC Resources by 50.6% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 123,326 shares of the energy company’s stock worth $2,508,000 after purchasing an additional 41,421 shares during the period. FCA Corp TX raised its holdings in shares of 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 purchasing an additional 1,009 shares during the period. Quadrature Capital Ltd raised its holdings in shares of RGC Resources by 39.0% during the third quarter. Quadrature Capital Ltd now owns 16,822 shares of the energy company’s stock worth $290,000 after purchasing an additional 4,716 shares during the period. Finally, Fruth Investment Management acquired a new stake in shares of RGC Resources during the fourth quarter worth $211,000. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Stock Up 0.3 %

Shares of NASDAQ:RGCO opened at $20.45 on Friday. The stock has a market capitalization of $208.18 million, a price-to-earnings ratio of 15.73 and a beta of 0.20. RGC Resources, Inc. has a 1-year low of $15.36 and a 1-year high of $21.89. The company’s fifty day moving average is $20.48 and its two-hundred day moving average is $20.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.00 and a current ratio of 1.31.

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

RGC Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.91%. RGC Resources’s dividend 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.