John Williamson III Purchases 500 Shares of RGC Resources (NASDAQ:RGCO) Stock

RGC Resources Inc. (NASDAQ:RGCO) Director John Williamson III acquired 500 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were acquired at an average cost of $21.32 per share, for a total transaction of $10,660.00. Following the purchase, the director directly owned 179,819 shares of the company’s stock, valued at $3,833,741.08. This represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

RGC Resources Price Performance

Shares of RGCO opened at $21.41 on Thursday. RGC Resources Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $27.99. The firm’s 50-day simple moving average is $22.29 and its two-hundred day simple moving average is $22.61. The stock has a market cap of $223.09 million, a PE ratio of 15.98 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.67 and a current ratio of 0.94.

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

RGC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 17th were paid 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 yield of 4.1%. RGC Resources’s payout ratio is presently 64.93%.

Hedge Funds Weigh In On RGC Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hennessy Advisors Inc. boosted its stake in RGC Resources by 6.2% during the 2nd quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company’s stock valued at $329,000 after purchasing an additional 800 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of RGC Resources during the second quarter valued at $3,272,000. BlackRock Inc. bought a new position in shares of RGC Resources during the second quarter valued at $10,213,000. Deutsche Bank AG bought a new position in shares of RGC Resources during the second quarter valued at $199,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of RGC Resources during the second quarter valued at $1,717,000. 35.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Huntington began coverage on RGC Resources in a research note on Monday. They issued an “outperform” rating and a $27.00 target price on the stock. Wall Street Zen downgraded RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of RGC Resources in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, RGC Resources currently has a consensus rating of “Buy” and a consensus target price of $27.00.

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.