Insider Buying: RGC Resources (NASDAQ:RGCO) Director Buys $21,300.00 in Stock

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

RGC Resources Stock Up 0.9%

Shares of RGCO stock opened at $21.93 on Friday. The firm has a fifty day moving average of $22.68 and a 200-day moving average of $22.60. The company has a quick ratio of 0.67, a current ratio of 0.94 and a debt-to-equity ratio of 1.19. RGC Resources Inc. has a 12-month low of $20.55 and a 12-month high of $27.99. The company has a market capitalization of $228.51 million, a price-to-earnings ratio of 16.37 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.05 EPS 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 the consensus estimate of $18.19 million. RGC Resources had a net margin of 13.05% and a return on equity of 11.73%.

RGC Resources Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were issued a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, July 17th. RGC Resources’s payout ratio is 64.93%.

Institutional Investors Weigh In On RGC Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its stake 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 increased its position in shares of 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 acquiring an additional 812 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in RGC Resources by 440.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock worth $63,000 after acquiring an additional 2,299 shares in the last quarter. California State Teachers Retirement System raised its holdings in RGC Resources by 518.8% during the second quarter. California State Teachers Retirement System now owns 2,772 shares of the energy company’s stock worth $66,000 after acquiring an additional 2,324 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in RGC Resources during the fourth quarter valued at approximately $103,000. 35.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.