RGC Resources (NASDAQ:RGCO) Director Purchases $21,290.00 in Stock

RGC Resources Inc. (NASDAQ:RGCO) Director John Williamson III acquired 1,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was acquired at an average cost of $21.29 per share, with a total value of $21,290.00. Following the purchase, the director owned 179,319 shares of the company’s stock, valued at approximately $3,817,701.51. This trade represents a 0.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

RGC Resources Stock Performance

Shares of RGCO stock opened at $21.32 on Monday. RGC Resources Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $27.99. The company has a 50 day moving average price of $22.44 and a 200 day moving average price of $22.62. The stock has a market capitalization of $222.15 million, a P/E ratio of 15.91 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.67 and a current ratio of 0.94.

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

RGC Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were issued a $0.2175 dividend. The ex-dividend date was Friday, July 17th. This represents a $0.87 dividend on an annualized basis and a yield of 4.1%. RGC Resources’s dividend payout ratio (DPR) is 64.93%.

Analysts Set New Price Targets

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

Institutional Trading of RGC Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in RGC Resources by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock worth $4,441,000 after buying an additional 1,701 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of RGC Resources by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock valued at $9,028,000 after acquiring an additional 2,486 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after acquiring an additional 2,299 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of 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. Finally, JPMorgan Chase & Co. raised its position in shares of RGC Resources by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company’s stock worth $284,000 after acquiring an additional 2,502 shares in the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

About RGC Resources

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.