RGC Resources (NASDAQ:RGCO) Director Purchases $21,290.00 in Stock

Key Points

• Director John Williamson III purchased 1,000 RGCO shares at an average price of $21.29, investing $21,290 and increasing his direct ownership to 179,319 shares.
• RGC Resources shares traded at $21.25, near the company’s one-year low of $20.55 and below both its 50-day and 200-day moving averages. The company recently missed quarterly earnings and revenue estimates.
• The company maintains a quarterly dividend of $0.2175, equivalent to $0.87 annually and a 4.1% yield; institutional investors own 35.77% of outstanding shares, while analyst sentiment remains a consensus “Buy.”

RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) Director John Williamson III purchased 1,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average price of $21.29 per share, for a total transaction of $21,290.00. Following the completion of the purchase, the director directly owned 179,319 shares of the company's stock, valued at approximately $3,817,701.51. This trade represents a 0.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

RGC Resources Stock Performance

Shares of RGCO stock traded down $0.39 during mid-day trading on Friday, reaching $21.25. The stock had a trading volume of 13,098 shares, compared to its average volume of 12,743. The firm's 50 day simple moving average is $22.49 and its 200 day simple moving average is $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 Inc. has a one year low of $20.55 and a one year high of $27.99. The firm has a market cap of $221.43 million, a PE ratio of 15.86 and a beta of 0.52.

RGC Resources (NASDAQ:RGCO - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $17.11 million for 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were paid 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 is currently 64.93%.

Hedge Funds Weigh In On RGC Resources

Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in RGC Resources by 200.0% during the second 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 holdings in shares of RGC Resources by 80.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company's stock worth $41,000 after acquiring an additional 812 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of RGC Resources by 518.8% in the 2nd 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. Tower Research Capital LLC TRC grew its position in RGC Resources by 440.4% during the 2nd 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 during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in RGC Resources during the 4th quarter worth approximately $103,000. 35.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RGCO has been the topic of a number of analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of RGC Resources in a research note on Friday, August 7th. Wall Street Zen cut shares of RGC Resources from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.