RGC Resources, Inc. (NASDAQ:RGCO) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in RGC Resources, Inc. (NASDAQ:RGCO) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,161 shares of the energy company’s stock after selling 6,343 shares during the quarter. Bank of New York Mellon Corp’s holdings in RGC Resources were worth $1,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RGCO. Geode Capital Management LLC increased 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 in the last quarter. State Street Corp increased its stake in RGC Resources by 0.6% during the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after buying an additional 592 shares in the last quarter. Barclays PLC increased its stake in RGC Resources by 257.3% during the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after buying an additional 7,879 shares in the last quarter. JPMorgan Chase & Co. increased its stake in RGC Resources by 267.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,695 shares of the energy company’s stock worth $332,000 after buying an additional 10,697 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in 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 buying an additional 1,161 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company’s stock.

RGC Resources Stock Up 3.7 %

NASDAQ:RGCO opened at $21.45 on Monday. The company has a quick ratio of 0.41, a current ratio of 0.56 and a debt-to-equity ratio of 1.00. The stock’s fifty day moving average is $20.69 and its two-hundred day moving average is $20.72. RGC Resources, Inc. has a 52 week low of $18.38 and a 52 week high of $24.20. The stock has a market capitalization of $220.87 million, a price-to-earnings ratio of 18.33 and a beta of 0.25.

RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings data on Monday, February 10th. The energy company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. Research analysts anticipate that RGC Resources, Inc. will post 1.23 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded RGC Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th.

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.