RGC Resources (NASDAQ:RGCO) Director John Williamson III Acquires 1,000 Shares

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

RGC Resources Stock Down 1.5%

Shares of RGCO stock opened at $21.32 on Friday. RGC Resources Inc. has a one year low of $20.55 and a one year high of $27.99. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.94 and a quick ratio of 0.67. The company has a market capitalization of $222.15 million, a price-to-earnings ratio of 15.91 and a beta of 0.52. The company’s fifty day moving average price is $22.44 and its 200-day moving average price is $22.61.

RGC Resources (NASDAQ:RGCO) last posted its quarterly 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 return on equity of 11.73% and a net margin of 13.05%.The business had revenue of $17.11 million during the quarter, compared to analysts’ expectations of $18.19 million.

RGC Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were given a dividend of $0.2175 per share. 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%.

Hedge Funds Weigh In On RGC Resources

Several hedge funds have recently added to or reduced their stakes in RGCO. Ancora Advisors LLC purchased a new position in shares of RGC Resources during the second quarter valued at approximately $3,272,000. BlackRock Inc. bought a new position in RGC Resources in the second quarter worth approximately $10,213,000. Bank of New York Mellon Corp purchased a new position in RGC Resources during the 2nd quarter worth $1,717,000. Deutsche Bank AG bought a new stake in RGC Resources during the 2nd quarter valued at $199,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of RGC Resources in the 2nd quarter worth $248,000. 35.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RGCO. Weiss Ratings reissued a “buy (b)” rating on shares of RGC Resources in a research note on Friday, August 7th. Wall Street Zen cut RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, RGC Resources presently has an average rating of “Buy”.

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.