Teton Advisors LLC Makes New $2.15 Million Investment in RGC Resources Inc. $RGCO

Teton Advisors LLC acquired a new stake in RGC Resources Inc. (NASDAQ:RGCO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,000 shares of the energy company’s stock, valued at approximately $2,154,000. RGC Resources accounts for approximately 1.3% of Teton Advisors LLC’s investment portfolio, making the stock its 21st largest position. Teton Advisors LLC owned approximately 0.93% of RGC Resources at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cary Street Partners Financial LLC boosted its holdings in RGC Resources by 1.8% in the third quarter. Cary Street Partners Financial LLC now owns 31,817 shares of the energy company’s stock valued at $714,000 after purchasing an additional 557 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of RGC Resources by 5.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,654 shares of the energy company’s stock valued at $283,000 after buying an additional 668 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of RGC Resources by 45.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,549 shares of the energy company’s stock valued at $57,000 after buying an additional 800 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after buying an additional 1,068 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in RGC Resources by 647.1% during the third quarter. New York State Common Retirement Fund now owns 1,270 shares of the energy company’s stock worth $28,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 35.77% of the company’s stock.

Wall Street Analysts Forecast Growth

RGCO has been the subject of a number of analyst reports. Weiss Ratings raised RGC Resources from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Wall Street Zen raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, RGC Resources has an average rating of “Buy”.

RGC Resources Price Performance

NASDAQ:RGCO opened at $22.50 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 1.19. RGC Resources Inc. has a 52 week low of $19.68 and a 52 week high of $23.82. The stock’s 50-day moving average price is $21.60 and its 200-day moving average price is $21.84. The stock has a market capitalization of $233.78 million, a PE ratio of 18.15 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last released its quarterly earnings results on Thursday, February 5th. The energy company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). The business had revenue of $30.26 million during the quarter, compared to analyst estimates of $28.21 million. RGC Resources had a return on equity of 11.11% and a net margin of 13.11%. As a group, equities analysts expect that RGC Resources Inc. will post 1.23 EPS for the current fiscal year.

RGC Resources Profile

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.