Fruth Investment Management Has $276,000 Position in RGC Resources, Inc. (NASDAQ:RGCO)

Fruth Investment Management increased its position in shares of RGC Resources, Inc. (NASDAQ:RGCO) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,800 shares of the energy company’s stock after acquiring an additional 700 shares during the period. Fruth Investment Management owned about 0.13% of RGC Resources worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in RGCO. State Street Corp boosted its holdings 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 purchasing an additional 592 shares in the last quarter. Cerity Partners LLC grew its position in RGC Resources by 4.6% in the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after acquiring an additional 1,161 shares during the last quarter. Geode Capital Management LLC raised its stake in RGC Resources by 4.1% during the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock worth $4,429,000 after acquiring an additional 7,701 shares in the last quarter. Barclays PLC lifted its holdings in shares of RGC Resources by 257.3% in the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after acquiring an additional 7,879 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of RGC Resources by 267.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock valued at $332,000 after purchasing an additional 10,697 shares in the last quarter. 35.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

RGC Resources Stock Up 3.4 %

Shares of NASDAQ:RGCO opened at $21.09 on Thursday. The business has a fifty day simple moving average of $20.45 and a 200 day simple moving average of $20.76. RGC Resources, Inc. has a 12-month low of $17.90 and a 12-month high of $24.20. The firm has a market cap of $216.38 million, a P/E ratio of 18.18 and a beta of 0.18. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26.

RGC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Friday, January 17th were given a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, January 17th. RGC Resources’s dividend payout ratio (DPR) is 71.55%.

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.