RGC Resources (NASDAQ:RGCO) Director John Williamson III Buys 1,000 Shares of Stock

RGC Resources Inc. (NASDAQ:RGCO) Director John Williamson III bought 1,000 shares of RGC Resources stock in a transaction on Tuesday, September 1st. The shares were purchased at an average price of $21.30 per share, for a total transaction of $21,300.00. Following the acquisition, the director directly owned 178,010 shares in the company, valued at approximately $3,791,613. This trade represents a 0.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

RGC Resources Trading Up 0.5%

NASDAQ RGCO opened at $21.67 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $225.80 million, a PE ratio of 16.17 and a beta of 0.52. The stock’s 50 day moving average is $22.77 and its 200 day moving average is $22.61. RGC Resources Inc. has a twelve month low of $20.55 and a twelve month high of $27.99.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). RGC Resources had a return on equity of 11.73% and a net margin of 13.05%.The business had revenue of $17.11 million during the quarter, compared to analysts’ expectations of $18.19 million.

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were given a dividend of $0.2175 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $0.87 annualized dividend and a dividend yield of 4.0%. RGC Resources’s dividend payout ratio (DPR) is 64.93%.

Wall Street Analyst Weigh In

RGCO has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of RGC Resources in a report on Friday, August 7th. Wall Street Zen lowered RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, RGC Resources has an average rating of “Buy”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RGCO. Martingale Asset Management L P raised its position in RGC Resources by 3.6% during the 4th quarter. Martingale Asset Management L P now owns 17,738 shares of the energy company’s stock valued at $378,000 after purchasing an additional 616 shares in the last quarter. FCA Corp TX increased its stake in shares of RGC Resources by 1.9% during the first quarter. FCA Corp TX now owns 42,773 shares of the energy company’s stock valued at $943,000 after buying an additional 795 shares during the period. Hennessy Advisors Inc. raised its holdings in shares of RGC Resources by 6.2% in the second quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company’s stock valued at $329,000 after acquiring an additional 800 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in RGC Resources by 80.9% in the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock worth $41,000 after acquiring an additional 812 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in RGC Resources by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

RGC Resources, Inc (NASDAQ: RGCO) is a natural gas distribution and transmission company headquartered in Wheeling, West Virginia. Through its regulated subsidiaries, the company provides energy delivery services to residential, commercial and industrial customers across northern West Virginia, western Pennsylvania and parts of Maryland. RGC Resources focuses on maintaining a safe and efficient local pipeline network to ensure reliable supply to its service areas.

The company operates two primary business segments: distribution and transmission.