Fruth Investment Management Purchases 700 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

Fruth Investment Management raised its position in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,800 shares of the energy company’s stock after acquiring an additional 700 shares during the quarter. Fruth Investment Management’s holdings in RGC Resources were worth $276,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Cutter & CO Brokerage Inc. lifted its position in shares of RGC Resources by 18.5% during the 3rd 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 period. Cerity Partners LLC boosted its position in shares of RGC Resources by 4.6% during the 3rd quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock worth $590,000 after purchasing an additional 1,161 shares in the last quarter. State Street Corp grew its stake in shares of RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock valued at $2,368,000 after buying an additional 592 shares during the period. Barclays PLC increased its position in RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after buying an additional 7,879 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in RGC Resources by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after buying an additional 7,701 shares during the period. 35.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

RGC Resources Stock Performance

Shares of RGCO stock opened at $21.09 on Thursday. RGC Resources, Inc. has a 12 month low of $17.90 and a 12 month high of $24.20. The firm has a market capitalization of $216.38 million, a PE ratio of 18.18 and a beta of 0.18. The firm has a fifty day simple moving average of $20.45 and a two-hundred day simple moving average of $20.76. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26.

RGC Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Investors of record on Friday, January 17th were issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, January 17th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s dividend payout ratio is currently 71.55%.

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.