Insider Buying: RGC Resources (NASDAQ:RGCO) Director Acquires $21,290.00 in Stock

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

RGC Resources Price Performance

NASDAQ RGCO traded down $0.39 on Friday, hitting $21.25. 13,098 shares of the company were exchanged, compared to its average volume of 12,743. The firm has a 50 day moving average of $22.49 and a two-hundred day moving average of $22.61. The company has a market cap of $221.43 million, a P/E ratio of 15.86 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 1-year low of $20.55 and a 1-year high of $27.99.

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

RGC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were paid a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources’s dividend payout ratio is 64.93%.

Analysts Set New Price Targets

RGCO has been the subject of several research analyst reports. Wall Street Zen cut shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of RGC Resources in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, RGC Resources presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Ancora Advisors LLC acquired a new stake in RGC Resources during the 2nd quarter worth $3,272,000. Bank of New York Mellon Corp acquired a new position in shares of RGC Resources in the 2nd quarter valued at $1,717,000. BlackRock Inc. bought a new position in shares of RGC Resources in the 2nd quarter worth $10,213,000. 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. Finally, Deutsche Bank AG bought a new position in RGC Resources during the 2nd quarter worth approximately $199,000. Institutional investors own 35.77% of the company’s stock.

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.