RGC Resources (NASDAQ:RGCO) CEO Paul Nester Purchases 500 Shares

RGC Resources Inc. (NASDAQ:RGCO) CEO Paul Nester bought 500 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were acquired at an average price of $21.30 per share, for a total transaction of $10,650.00. Following the transaction, the chief executive officer owned 134,213 shares in the company, valued at approximately $2,858,736.90. This represents a 0.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RGC Resources Stock Down 1.5%

NASDAQ RGCO opened at $21.32 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 1.19. The company has a market cap of $222.15 million, a price-to-earnings ratio of 15.91 and a beta of 0.52. The company has a 50 day moving average of $22.44 and a 200-day moving average of $22.61. RGC Resources Inc. has a 1-year low of $20.55 and a 1-year high of $27.99.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share (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 company had revenue of $17.11 million for the quarter, compared to analyst estimates of $18.19 million.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were given a $0.2175 dividend. 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%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RGCO shares. 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 reissued a “buy (b)” rating on shares of RGC Resources in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Hedge Funds Weigh In On RGC Resources

A number of institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its position in shares of RGC Resources by 200.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after buying an additional 1,068 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in RGC Resources by 80.9% in the third quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after buying an additional 812 shares in the last quarter. Tower Research Capital LLC TRC grew its position in RGC Resources by 440.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after acquiring an additional 2,299 shares during the last quarter. California State Teachers Retirement System grew its position 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 acquiring an additional 2,324 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in RGC Resources during the fourth quarter worth about $103,000. Institutional investors and hedge funds 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.