Cerity Partners LLC Buys 1,161 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

Cerity Partners LLC boosted its position in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,131 shares of the energy company’s stock after acquiring an additional 1,161 shares during the period. Cerity Partners LLC owned 0.26% of RGC Resources worth $590,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in RGCO. Burke & Herbert Bank & Trust Co. purchased a new position in shares of RGC Resources in the second quarter valued at about $819,000. Gabelli Funds LLC lifted its holdings in RGC Resources by 16.4% in the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after purchasing an additional 31,651 shares in the last quarter. Vanguard Group Inc. boosted its stake in RGC Resources by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock worth $8,861,000 after purchasing an additional 4,202 shares during the period. Rhumbline Advisers grew its holdings in RGC Resources by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after buying an additional 497 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of RGC Resources by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock valued at $217,000 after buying an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

RGC Resources Trading Up 0.8 %

Shares of RGC Resources stock opened at $20.60 on Friday. RGC Resources, Inc. has a twelve month low of $17.90 and a twelve month high of $24.20. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average price of $20.93 and a 200-day moving average price of $20.76. The firm has a market cap of $210.51 million, a price-to-earnings ratio of 17.76 and a beta of 0.17.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 17th will be paid a $0.2075 dividend. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, January 17th. This represents a $0.83 dividend on an annualized basis and a yield of 4.03%. RGC Resources’s payout ratio is presently 71.55%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of RGC Resources from a “sell” rating to a “hold” rating in a research report on Friday, November 29th.

RGC Resources 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.