Barclays PLC Purchases 7,879 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

Barclays PLC grew its position in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 257.3% during the third quarter, HoldingsChannel.com reports. The firm owned 10,941 shares of the energy company’s stock after purchasing an additional 7,879 shares during the period. Barclays PLC’s holdings in RGC Resources were worth $247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RGCO. Gabelli Funds LLC raised 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 valued at $4,585,000 after buying an additional 31,651 shares during the last quarter. Geode Capital Management LLC increased its position in RGC Resources by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after acquiring an additional 7,701 shares during the period. Cutter & CO Brokerage Inc. raised its stake in shares of RGC Resources by 18.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock valued at $3,113,000 after acquiring an additional 21,489 shares during the last quarter. State Street Corp lifted its holdings in shares of RGC Resources by 0.6% during the third quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after purchasing an additional 592 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of RGC Resources by 1.4% in the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after purchasing an additional 600 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

RGC Resources Stock Performance

Shares of RGCO stock opened at $20.86 on Tuesday. The stock has a market capitalization of $214.02 million, a PE ratio of 17.98 and a beta of 0.18. The business’s 50 day simple moving average is $20.43 and its 200 day simple moving average is $20.75. 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, Inc. has a one year low of $17.90 and a one year high of $24.20.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 17th will be paid a $0.2075 dividend. This is a positive change from RGC Resources’s previous quarterly dividend of $0.20. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, January 17th. RGC Resources’s dividend payout ratio is currently 68.97%.

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.