Prospera Financial Services Inc Invests $3.54 Million in RGC Resources Inc. $RGCO

Prospera Financial Services Inc purchased a new position in shares of RGC Resources Inc. (NASDAQ:RGCO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 158,340 shares of the energy company’s stock, valued at approximately $3,544,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in RGC Resources by 5.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,654 shares of the energy company’s stock worth $283,000 after buying an additional 668 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in shares of RGC Resources during the 2nd quarter valued at $59,000. Gamco Investors INC. ET AL grew its holdings in shares of RGC Resources by 2.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 415,100 shares of the energy company’s stock valued at $8,663,000 after acquiring an additional 9,400 shares in the last quarter. Cutter & CO Brokerage Inc. increased its stake in shares of RGC Resources by 7.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 147,854 shares of the energy company’s stock worth $3,086,000 after acquiring an additional 10,857 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of RGC Resources by 8.2% during the first quarter. Russell Investments Group Ltd. now owns 194,570 shares of the energy company’s stock worth $4,061,000 after acquiring an additional 14,724 shares in the last quarter. 35.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on RGCO. Weiss Ratings downgraded RGC Resources from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wall Street Zen downgraded RGC Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, RGC Resources currently has an average rating of “Hold”.

RGC Resources Stock Down 0.1%

RGC Resources stock opened at $20.91 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.66 and a debt-to-equity ratio of 1.20. RGC Resources Inc. has a 1-year low of $19.06 and a 1-year high of $23.82. The firm’s fifty day simple moving average is $21.82 and its 200-day simple moving average is $21.56. The company has a market capitalization of $215.92 million, a P/E ratio of 15.96 and a beta of 0.50.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Monday, May 22nd. The energy company reported $0.64 EPS for the quarter. RGC Resources had a net margin of 14.48% and a return on equity of 12.01%. The firm had revenue of $38.03 million for the quarter. Sell-side analysts forecast that RGC Resources Inc. will post 1.23 earnings per share for the current fiscal year.

RGC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 17th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, October 17th. RGC Resources’s dividend payout ratio (DPR) is presently 63.36%.

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.