Cutter & CO Brokerage Inc. Lowers Holdings in RGC Resources, Inc. (NASDAQ:RGCO)

Cutter & CO Brokerage Inc. trimmed its position in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 4.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 116,459 shares of the energy company’s stock after selling 5,421 shares during the period. Cutter & CO Brokerage Inc.’s holdings in RGC Resources were worth $2,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RGCO. Gabelli Funds LLC grew its holdings in shares of RGC Resources by 14.3% during the first quarter. Gabelli Funds LLC now owns 192,555 shares of the energy company’s stock valued at $3,897,000 after buying an additional 24,055 shares during the last quarter. Burke & Herbert Bank & Trust Co. bought a new stake in shares of RGC Resources in the 2nd quarter worth $819,000. Russell Investments Group Ltd. raised its stake in shares of RGC Resources by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 181,524 shares of the energy company’s stock worth $3,674,000 after purchasing an additional 36,685 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of 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. Finally, Vanguard Group Inc. boosted its position in shares of RGC Resources by 1.0% during the first quarter. Vanguard Group Inc. now owns 437,803 shares of the energy company’s stock valued at $8,861,000 after buying an additional 4,202 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors.

RGC Resources Stock Performance

Shares of RGC Resources stock traded down $0.22 on Friday, hitting $21.25. 3,430 shares of the company’s stock were exchanged, compared to its average volume of 10,096. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.69 and a current ratio of 1.07. The stock has a market capitalization of $217.18 million, a PE ratio of 16.35 and a beta of 0.16. RGC Resources, Inc. has a 1 year low of $15.36 and a 1 year high of $23.70. The company has a 50-day simple moving average of $20.68 and a 200-day simple moving average of $20.31.

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

Analysts Set New Price Targets

Separately, StockNews.com cut shares of RGC Resources from a “hold” rating to a “sell” rating in a report on Friday.

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.