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

RGC Resources Inc. (NASDAQ:RGCO) Director John Williamson III bought 1,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were acquired at an average cost of $21.29 per share, for a total transaction of $21,290.00. Following the completion of the acquisition, the director directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

RGC Resources Stock Down 1.5%

NASDAQ RGCO opened at $21.32 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 1.19. The company has a market cap of $222.15 million, a price-to-earnings ratio of 15.91 and a beta of 0.52. The company has a 50 day moving average of $22.44 and a 200-day moving average of $22.61. RGC Resources Inc. has a 1-year low of $20.55 and a 1-year high of $27.99.

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

RGC Resources Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. 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 report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Institutional Investors Weigh In On RGC Resources

Several large investors have recently modified their holdings of RGCO. California State Teachers Retirement System raised its stake in RGC Resources by 518.8% during the second quarter. California State Teachers Retirement System now owns 2,772 shares of the energy company’s stock worth $66,000 after buying an additional 2,324 shares during the last quarter. Hennessy Advisors Inc. boosted its position in RGC Resources by 6.2% during 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 during the last quarter. Ancora Advisors LLC bought a new stake in RGC Resources during the second quarter valued at $3,272,000. BlackRock Inc. bought a new position in shares of RGC Resources in the 2nd quarter worth about $10,213,000. Finally, Deutsche Bank AG acquired a new position in shares of RGC Resources in the 2nd quarter valued at about $199,000. 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.