Geode Capital Management LLC Raises Holdings in RGC Resources, Inc. (NASDAQ:RGCO)

Geode Capital Management LLC lifted its holdings in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,205 shares of the energy company’s stock after buying an additional 7,701 shares during the quarter. Geode Capital Management LLC owned approximately 1.92% of RGC Resources worth $4,429,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of RGC Resources by 5.6% in the second quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock valued at $191,000 after purchasing an additional 497 shares during the period. State Street Corp raised its holdings in shares of RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after buying an additional 592 shares during the period. Renaissance Technologies LLC boosted its holdings in RGC Resources by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock valued at $888,000 after acquiring an additional 600 shares during the period. Cerity Partners LLC grew its stake in RGC Resources by 4.6% during the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after purchasing an additional 1,161 shares in the last quarter. Finally, Fruth Investment Management grew its holdings in RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock worth $295,000 after acquiring an additional 1,198 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Trading Up 0.2 %

NASDAQ RGCO opened at $20.04 on Monday. The company has a market cap of $205.67 million, a P/E ratio of 17.28 and a beta of 0.18. The company has a 50-day moving average of $20.68 and a 200-day moving average of $20.74. RGC Resources, Inc. has a 12 month low of $17.90 and a 12 month high of $24.20. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.87 and a quick ratio of 0.52.

RGC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.2075 per share. The ex-dividend date is Friday, January 17th. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. This represents a $0.83 annualized dividend and a dividend yield of 4.14%. RGC Resources’s dividend payout ratio (DPR) is currently 71.55%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of RGC Resources from a “hold” rating to a “sell” rating in a report on Thursday, December 19th.

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.