RGC Resources (NASDAQ:RGCO) Director Buys $10,660.00 in 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 acquired at an average price of $21.32 per share, with a total value of $10,660.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

RGC Resources Stock Up 1.2%

Shares of NASDAQ:RGCO opened at $21.67 on Friday. The company has a market capitalization of $225.80 million, a price-to-earnings ratio of 16.17 and a beta of 0.52. RGC Resources Inc. has a 12-month low of $20.55 and a 12-month high of $27.99. The business has a 50-day moving average price of $22.24 and a 200 day moving average price of $22.61. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 1.19.

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

RGC Resources Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.0%. RGC Resources’s dividend payout ratio (DPR) is presently 64.93%.

Analysts Set New Price Targets

RGCO has been the topic of a number of research analyst reports. Huntington started coverage on RGC Resources in a research report on Monday. They issued an “outperform” rating and a $27.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RGC Resources in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, RGC Resources currently has a consensus rating of “Buy” and an average target price of $27.00.

Institutional Investors Weigh In On RGC Resources

A number of large investors have recently modified their holdings of the company. Deutsche Bank AG acquired a new position in shares of RGC Resources during the second quarter worth $199,000. D.A. Davidson & CO. acquired a new stake in RGC Resources in the first quarter valued at $201,000. Clearstead Advisors LLC purchased a new stake in RGC Resources during the 4th quarter worth about $219,000. Oppenheimer Asset Management Inc. purchased a new stake in RGC Resources during the 2nd quarter worth about $248,000. Finally, Hennessy Advisors Inc. boosted its position in shares of RGC Resources by 6.2% during the 2nd quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company’s stock worth $329,000 after acquiring an additional 800 shares in the last quarter. 35.77% of the stock is owned by hedge funds and other institutional investors.

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.