RGC Resources (NASDAQ:RGCO) Director John Williamson III Buys 500 Shares

RGC Resources Inc. (NASDAQ:RGCO) Director John Williamson III acquired 500 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was bought at an average price 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 represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

RGC Resources Price Performance

Shares of NASDAQ:RGCO opened at $21.46 on Wednesday. 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 $223.61 million, a price-to-earnings ratio of 16.01 and a beta of 0.52. The stock’s 50 day moving average price is $22.35 and its 200 day moving average price is $22.61. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.94 and a quick ratio of 0.67.

RGC Resources (NASDAQ:RGCO) last released its 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). RGC Resources had a return on equity of 11.73% and a net margin of 13.05%.The firm had revenue of $17.11 million during the quarter, compared to analyst estimates of $18.19 million.

RGC Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were issued a $0.2175 dividend. The ex-dividend date was Friday, July 17th. This represents a $0.87 annualized dividend and a dividend yield of 4.1%. RGC Resources’s dividend payout ratio is 64.93%.

Institutional Investors Weigh In On RGC Resources

Several large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of RGC Resources during the second quarter worth $10,213,000. Gamco Investors INC. ET AL increased its stake in RGC Resources by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 416,900 shares of the energy company’s stock worth $9,193,000 after purchasing an additional 3,600 shares in the last quarter. Gabelli Funds LLC increased its stake in RGC Resources by 0.6% in the 1st quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock worth $5,078,000 after purchasing an additional 1,300 shares in the last quarter. Prospera Financial Services Inc raised its holdings in RGC Resources by 3.8% during the 4th quarter. Prospera Financial Services Inc now owns 176,437 shares of the energy company’s stock worth $3,758,000 after buying an additional 6,423 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in RGC Resources during the 2nd quarter worth about $3,272,000. 35.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RGCO shares. Huntington assumed coverage on RGC Resources in a report on Monday. They set an “outperform” rating and a $27.00 target price on the stock. Wall Street Zen lowered shares of RGC Resources from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of RGC Resources in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.00.

RGC Resources Company Profile

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.