RGC Resources (NASDAQ:RGCO) Director Robert Johnston Acquires 1,070 Shares of Stock

RGC Resources Inc. (NASDAQ:RGCO) Director Robert Johnston purchased 1,070 shares of RGC Resources stock in a transaction on Wednesday, September 23rd. The stock was bought at an average price of $20.74 per share, with a total value of $22,191.80. Following the completion of the acquisition, the director directly owned 67,070 shares of the company’s stock, valued at approximately $1,391,031.80. This trade represents a 1.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

RGC Resources Price Performance

Shares of NASDAQ RGCO opened at $21.28 on Friday. The firm’s 50-day moving average price is $21.79 and its 200-day moving average price is $22.55. RGC Resources Inc. has a 1-year low of $20.55 and a 1-year high of $27.99. The firm has a market capitalization of $221.74 million, a P/E ratio of 15.88 and a beta of 0.52. 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) last issued 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). RGC Resources had a net margin of 13.05% and a return on equity of 11.73%. 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 declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders 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 yield of 4.1%. RGC Resources’s dividend payout ratio is presently 64.93%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Huntington assumed coverage on RGC Resources in a research report on Monday, September 14th. They set an “outperform” rating and a $27.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of RGC Resources in a research report on Friday, August 7th. Finally, Wall Street Zen lowered shares of RGC Resources from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $27.00.

Institutional Trading of RGC Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGCO. FCA Corp TX raised its stake in shares of RGC Resources by 1.9% in the first quarter. FCA Corp TX now owns 42,773 shares of the energy company’s stock worth $943,000 after purchasing an additional 795 shares during the last quarter. Hennessy Advisors Inc. boosted its position in shares of RGC Resources by 6.2% during 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 during the last quarter. Gabelli Funds LLC boosted its position in shares of RGC Resources by 0.6% during the first quarter. Gabelli Funds LLC now owns 230,300 shares of the energy company’s stock valued at $5,078,000 after buying an additional 1,300 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in RGC Resources by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 126,931 shares of the energy company’s stock worth $2,799,000 after buying an additional 3,175 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in RGC Resources by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 416,900 shares of the energy company’s stock worth $9,193,000 after buying an additional 3,600 shares in the last quarter. 35.77% of the stock is owned by institutional investors.

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.