Hennessy Advisors Inc. Sells 1,500 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

Hennessy Advisors Inc. reduced its holdings in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 8.7% during the first quarter, HoldingsChannel.com reports. The fund owned 15,654 shares of the energy company’s stock after selling 1,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in RGC Resources were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Cutter & CO Brokerage Inc. lifted its holdings in RGC Resources by 50.6% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 123,326 shares of the energy company’s stock worth $2,508,000 after acquiring an additional 41,421 shares during the period. Quadrature Capital Ltd raised its stake in shares of RGC Resources by 39.0% in the third quarter. Quadrature Capital Ltd now owns 16,822 shares of the energy company’s stock valued at $290,000 after buying an additional 4,716 shares during the period. Fruth Investment Management bought a new stake in shares of RGC Resources in the fourth quarter valued at $211,000. Nisa Investment Advisors LLC bought a new stake in shares of RGC Resources in the fourth quarter valued at $35,000. Finally, FCA Corp TX raised its stake in shares of RGC Resources by 2.4% in the fourth quarter. FCA Corp TX now owns 43,213 shares of the energy company’s stock valued at $879,000 after buying an additional 1,009 shares during the period. 35.77% of the stock is currently owned by institutional investors.

RGC Resources Stock Performance

Shares of RGCO opened at $20.45 on Friday. The firm has a market cap of $208.18 million, a PE ratio of 15.73 and a beta of 0.20. The stock’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $20.00. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.31 and a quick ratio of 1.00. RGC Resources, Inc. has a 1 year low of $15.36 and a 1 year high of $21.89.

RGC Resources (NASDAQ:RGCO) last issued its earnings results on Wednesday, May 1st. The energy company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $34.00 million. RGC Resources had a net margin of 15.82% and a return on equity of 12.66%. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities research analysts forecast that RGC Resources, Inc. will post 1.14 EPS for the current year.

RGC Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 17th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $0.80 annualized dividend and a dividend yield of 3.91%. RGC Resources’s payout ratio is presently 61.54%.

RGC Resources Company 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.