John Williamson III Acquires 500 Shares of RGC Resources (NASDAQ:RGCO) Stock

RGC Resources Inc. (NASDAQ:RGCO) Director John Williamson III purchased 500 shares of the stock in a transaction dated Monday, September 14th. The shares were bought at an average cost of $21.32 per share, for a total transaction of $10,660.00. Following the completion of the purchase, the director owned 179,819 shares in the company, valued at approximately $3,833,741.08. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

RGC Resources Price Performance

Shares of NASDAQ RGCO traded up $0.18 during midday trading on Tuesday, hitting $21.46. The company had a trading volume of 10,717 shares, compared to its average volume of 12,780. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 1.19. RGC Resources Inc. has a twelve month low of $20.55 and a twelve month high of $27.99. The business has a 50-day simple moving average of $22.39 and a two-hundred day simple moving average of $22.62. The firm has a market capitalization of $223.61 million, a price-to-earnings ratio of 16.01 and a beta of 0.52.

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

RGC Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were paid 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 4.1%. RGC Resources’s payout ratio is 64.93%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RGC Resources in a research note on Friday, August 7th. Wall Street Zen downgraded RGC Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Huntington assumed coverage on RGC Resources in a report on Monday. They issued an “outperform” rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, RGC Resources currently has a consensus rating of “Buy” and a consensus target price of $27.00.

Institutional Investors Weigh In On RGC Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG acquired a new stake in RGC Resources during the 2nd quarter valued at $199,000. D.A. Davidson & CO. acquired a new position in shares of RGC Resources in the first quarter worth $201,000. Clearstead Advisors LLC acquired a new position in shares of RGC Resources in the fourth quarter worth $219,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of RGC Resources in the second quarter valued at $248,000. Finally, Hennessy Advisors Inc. lifted its position 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. Hedge funds and other institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

RGC Resources, Inc is a holding company whose principal subsidiary, Roanoke Gas Company, provides regulated natural gas distribution services in southwestern Virginia. The company delivers natural gas to residential, commercial and industrial customers through a local distribution network.

Roanoke Gas serves communities in and around the Roanoke Valley, including the cities of Roanoke, Salem and Vinton, as well as portions of surrounding counties. Its activities include operating and maintaining natural gas pipelines, providing customer connections and delivering gas for heating, water heating, cooking and other commercial and industrial uses.

RGC Resources traces its operating history to Roanoke Gas Company, which was established in the early twentieth century.