Renaissance Technologies LLC Purchases 600 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

Renaissance Technologies LLC increased its position in RGC Resources, Inc. (NASDAQ:RGCO) by 1.4% during the second quarter, HoldingsChannel.com reports. The firm owned 43,433 shares of the energy company’s stock after acquiring an additional 600 shares during the quarter. Renaissance Technologies LLC’s holdings in RGC Resources were worth $888,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in RGC Resources by 62.0% during the first quarter. BNP Paribas Financial Markets now owns 4,011 shares of the energy company’s stock valued at $81,000 after purchasing an additional 1,535 shares in the last quarter. Rhumbline Advisers lifted 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. Price T Rowe Associates Inc. MD increased its position in RGC Resources by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,680 shares of the energy company’s stock valued at $217,000 after purchasing an additional 539 shares during the period. Burke & Herbert Bank & Trust Co. bought a new position in shares of RGC Resources in the 2nd quarter worth $819,000. Finally, Teton Advisors Inc. raised its stake in RGC Resources by 1.2% in the first quarter. Teton Advisors Inc. now owns 87,010 shares of the energy company’s stock valued at $1,761,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

RGC Resources Trading Down 1.7 %

Shares of RGCO stock opened at $20.68 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $20.80 and its 200-day moving average price is $20.58. RGC Resources, Inc. has a twelve month low of $15.36 and a twelve month high of $23.70. The stock has a market cap of $211.35 million, a price-to-earnings ratio of 15.91 and a beta of 0.16.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Monday, August 5th. The energy company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $14.46 million during the quarter, compared to analyst estimates of $14.00 million. RGC Resources had a net margin of 15.04% and a return on equity of 11.93%. During the same period in the previous year, the company posted $0.07 earnings per share. As a group, equities analysts predict that RGC Resources, Inc. will post 1.14 earnings per share for the current year.

RGC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, October 18th. RGC Resources’s dividend payout ratio is currently 61.54%.

Analysts Set New Price Targets

Separately, StockNews.com raised RGC Resources from a “sell” rating to a “hold” rating in a report on Tuesday.

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.