Insider Buying: RGC Resources (NASDAQ:RGCO) Director Purchases 1,000 Shares of Stock

RGC Resources Inc. (NASDAQ:RGCO) Director John Williamson III bought 1,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was acquired at an average price of $21.30 per share, with a total value of $21,300.00. Following the completion of the purchase, the director owned 178,010 shares of the company’s stock, valued at $3,791,613. This represents a 0.56% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

RGC Resources Price Performance

Shares of RGC Resources stock traded up $0.39 during trading on Wednesday, reaching $21.96. The company’s stock had a trading volume of 4,274 shares, compared to its average volume of 12,722. The stock has a 50-day moving average price of $22.84 and a two-hundred day moving average price of $22.61. The stock has a market capitalization of $228.82 million, a P/E ratio of 16.39 and a beta of 0.52. 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 Inc. has a one year low of $20.55 and a one year high of $27.99.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.05 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 the consensus estimate 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 disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were given a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, July 17th. RGC Resources’s payout ratio is 64.93%.

Analyst Ratings Changes

A number of research analysts have issued reports on RGCO shares. Weiss Ratings restated a “buy (b)” rating on shares of RGC Resources in a research report on Friday, August 7th. Wall Street Zen cut shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Institutional Investors Weigh In On RGC Resources

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in RGC Resources by 518.8% in the second quarter. California State Teachers Retirement System now owns 2,772 shares of the energy company’s stock valued at $66,000 after purchasing an additional 2,324 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in RGC Resources by 6.2% during the second quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company’s stock worth $329,000 after buying an additional 800 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of RGC Resources during the 2nd quarter worth about $3,272,000. BlackRock Inc. acquired a new position in shares of RGC Resources during the 2nd quarter worth about $10,213,000. Finally, Deutsche Bank AG bought a new stake in shares of RGC Resources in the 2nd quarter valued at about $199,000. 35.77% of the stock is owned by institutional investors and hedge funds.

RGC Resources Company Profile

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.