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

Key Points

• Director John Williamson III bought 500 RGC Resources shares at an average price of $21.32, investing $10,660 and increasing his direct ownership to 179,819 shares.
• RGCO shares recently traded at $21.46, while the company’s latest quarterly results missed analyst expectations, reporting $0.05 in EPS and $17.11 million in revenue.
• RGC Resources pays a quarterly dividend of $0.2175, or $0.87 annually, yielding approximately 4.1%. Analysts maintain a consensus “Buy” rating with a $27 price target.

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) Director John Williamson III acquired 500 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $21.32 per share, with a total value of $10,660.00. Following the completion of the acquisition, the director directly owned 179,819 shares of the company's stock, valued at approximately $3,833,741.08. This trade represents a 0.28% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

RGC Resources Stock Performance

Shares of RGC Resources stock traded up $0.18 during trading on Tuesday, reaching $21.46. The company's stock had a trading volume of 10,717 shares, compared to its average volume of 12,780. The company has a 50-day moving average price of $22.39 and a two-hundred day moving average price of $22.62. The firm has a market cap of $223.61 million, a PE ratio of 16.01 and a beta of 0.52. RGC Resources Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $27.99. 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 (NASDAQ:RGCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $17.11 million for the quarter, compared to analyst estimates of $18.19 million. RGC Resources had a return on equity of 11.73% and a net margin of 13.05%.

RGC Resources Dividend Announcement

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. This represents a $0.87 annualized dividend and a yield of 4.1%. 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 have recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new position in RGC Resources during the 2nd quarter worth approximately $199,000. D.A. Davidson & CO. acquired a new stake in shares of RGC Resources in the 1st quarter valued at approximately $201,000. Clearstead Advisors LLC purchased a new stake in shares of RGC Resources in the fourth quarter valued at approximately $219,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of RGC Resources in the second quarter valued at approximately $248,000. Finally, Hennessy Advisors Inc. boosted its stake in shares of RGC Resources by 6.2% in the second quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company's stock valued at $329,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 35.77% of the company's stock.

Wall Street Analyst Weigh In

RGCO has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of RGC Resources in a research report on Friday, August 7th. Wall Street Zen cut RGC Resources from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Huntington assumed coverage on RGC Resources in a report on Monday. They set an "outperform" rating and a $27.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $27.00.

About RGC Resources

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.

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