RGC Resources (NASDAQ:RGCO) CEO Acquires $10,650.00 in Stock

Key Points

• CEO Paul Nester bought 500 shares of RGC Resources at $21.30 each, investing $10,650 and increasing his ownership by 0.37% to 134,213 shares.
• RGC Resources reported quarterly EPS of $0.05 and revenue of $17.11 million, both slightly below analyst expectations. The stock opened at $21.64, up 1.4%.
• The company pays a quarterly dividend of $0.2175, or $0.87 annually, representing a 4.0% yield; analysts maintain a consensus “Buy” rating despite one recent downgrade to “Hold.”

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) CEO Paul Nester purchased 500 shares of the stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $21.30 per share, for a total transaction of $10,650.00. Following the completion of the acquisition, the chief executive officer owned 134,213 shares in the company, valued at approximately $2,858,736.90. This trade represents a 0.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

RGC Resources Trading Up 1.4%

Shares of NASDAQ:RGCO opened at $21.64 on Friday. RGC Resources Inc. has a 12-month low of $20.55 and a 12-month high of $27.99. The stock has a market cap of $225.49 million, a PE ratio of 16.15 and a beta of 0.52. The business has a 50 day moving average of $22.49 and a 200-day moving average of $22.61. 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 (NASDAQ:RGCO - Get Free Report) last posted its earnings results 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 firm 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 company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 17th were issued a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources's dividend payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded RGC Resources from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of RGC Resources in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, RGC Resources currently has a consensus rating of "Buy".

Hedge Funds Weigh In On RGC Resources

Hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $36,000 after acquiring an additional 1,068 shares during the period. BNP Paribas Financial Markets raised 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 purchasing an additional 812 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 2,299 shares in the last quarter. California State Teachers Retirement System lifted its position 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 purchasing an additional 2,324 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in RGC Resources during the fourth quarter worth about $103,000. 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.

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