Robert L. Wells II Sells 1,000 Shares of RGC Resources Inc. (RGCO) Stock

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RGC Resources Inc. (NASDAQ:RGCO) VP Robert L. Wells II sold 1,000 shares of RGC Resources stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $28.00, for a total value of $28,000.00. Following the completion of the sale, the vice president now owns 12,549 shares of the company’s stock, valued at approximately $351,372. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

RGCO opened at $26.54 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.65 and a quick ratio of 0.29. The stock has a market capitalization of $216.10 million, a price-to-earnings ratio of 27.94 and a beta of -0.15. RGC Resources Inc. has a 12 month low of $22.16 and a 12 month high of $31.33.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings results on Thursday, November 15th. The energy company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $9.97 million during the quarter, compared to analysts’ expectations of $10.40 million. RGC Resources had a return on equity of 9.40% and a net margin of 11.14%. As a group, sell-side analysts forecast that RGC Resources Inc. will post 1.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Tuesday, January 15th will be issued a $0.165 dividend. This is a boost from RGC Resources’s previous quarterly dividend of $0.16. The ex-dividend date is Monday, January 14th. This represents a $0.66 annualized dividend and a yield of 2.49%. RGC Resources’s payout ratio is 65.26%.

A number of institutional investors and hedge funds have recently bought and sold shares of RGCO. Rhumbline Advisers purchased a new stake in RGC Resources in the 2nd quarter valued at about $206,000. Bank of America Corp DE grew its holdings in RGC Resources by 59.6% in the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock valued at $207,000 after buying an additional 2,650 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in RGC Resources in the 2nd quarter valued at about $212,000. First Trust Advisors LP purchased a new stake in shares of RGC Resources during the 2nd quarter worth about $227,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of RGC Resources during the 3rd quarter worth about $296,000.

Separately, Zacks Investment Research upgraded RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Friday, August 10th.

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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 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.

Further Reading: What does cost of debt say about a company’s financial health?

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