Metropolitan Life Insurance Co. NY Buys New Position in RGC Resources Inc. (RGCO)

Metropolitan Life Insurance Co. NY bought a new position in RGC Resources Inc. (NASDAQ:RGCO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,552 shares of the energy company’s stock, valued at approximately $76,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RGCO. MetLife Investment Advisors LLC purchased a new stake in RGC Resources in the fourth quarter worth approximately $104,000. Bank of America Corp DE boosted its stake in shares of RGC Resources by 24.6% during the 4th quarter. Bank of America Corp DE now owns 10,306 shares of the energy company’s stock worth $309,000 after acquiring an additional 2,033 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of RGC Resources by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 87,660 shares of the energy company’s stock worth $2,626,000 after acquiring an additional 3,396 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of RGC Resources by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 112,821 shares of the energy company’s stock worth $3,380,000 after acquiring an additional 2,577 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of RGC Resources by 3.3% during the 4th quarter. BlackRock Inc. now owns 368,030 shares of the energy company’s stock worth $11,025,000 after acquiring an additional 11,702 shares during the last quarter.

Shares of RGC Resources stock opened at $27.74 on Friday. The firm has a market cap of $222.56 million, a PE ratio of 29.20 and a beta of -0.37. RGC Resources Inc. has a 1-year low of $24.16 and a 1-year high of $31.33. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.78 and a current ratio of 1.15.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Monday, February 4th. The energy company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The business had revenue of $21.22 million for the quarter, compared to analysts’ expectations of $19.15 million. RGC Resources had a return on equity of 9.61% and a net margin of 11.28%. As a group, equities analysts expect that RGC Resources Inc. will post 1.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, July 12th. RGC Resources’s dividend payout ratio is presently 16.84%.

In related news, COO C James Shockley, Jr. sold 1,469 shares of RGC Resources stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $28.00, for a total transaction of $41,132.00. Following the transaction, the chief operating officer now owns 8,297 shares in the company, valued at approximately $232,316. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Orazio John S. D sold 4,900 shares of RGC Resources stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $28.00, for a total transaction of $137,200.00. Following the transaction, the chief executive officer now owns 46,167 shares in the company, valued at approximately $1,292,676. The disclosure for this sale can be found here. In the last quarter, insiders have bought 163 shares of company stock worth $4,485 and have sold 8,599 shares worth $240,847. Company insiders own 7.30% of the company’s stock.

Separately, Zacks Investment Research cut shares of RGC Resources from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 6th.

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About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.

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Institutional Ownership by Quarter for RGC Resources (NASDAQ:RGCO)

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