Insider Buying: RGC Resources (NASDAQ:RGCO) CEO Purchases $10,650.00 in Stock

RGC Resources Inc. (NASDAQ:RGCO) CEO Paul Nester purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average cost of $21.30 per share, with a total value of $10,650.00. Following the completion of the purchase, the chief executive officer owned 134,213 shares of the company’s stock, valued at $2,858,736.90. The trade was a 0.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

RGC Resources Stock Performance

Shares of NASDAQ RGCO opened at $21.32 on Monday. RGC Resources Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $27.99. The firm has a market capitalization of $222.15 million, a P/E ratio of 15.91 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.94 and a quick ratio of 0.67. The company’s 50 day simple moving average is $22.44 and its 200 day simple moving average is $22.62.

RGC Resources (NASDAQ:RGCO) last released its earnings results on Wednesday, August 5th. The energy company reported $0.05 EPS 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 Announces Dividend

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

Institutional Trading of RGC Resources

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in RGC Resources during the 2nd quarter worth $10,213,000. Ancora Advisors LLC acquired a new position in RGC Resources in the second quarter valued at about $3,272,000. Bank of New York Mellon Corp acquired a new position in RGC Resources in the second quarter valued at about $1,717,000. Russell Investments Group Ltd. grew its stake in RGC Resources by 23.2% in the third quarter. Russell Investments Group Ltd. now owns 233,352 shares of the energy company’s stock valued at $5,236,000 after acquiring an additional 43,900 shares during the period. Finally, Focus Partners Wealth bought a new stake in shares of RGC Resources in the third quarter worth about $282,000. Institutional investors own 35.77% of the company’s stock.

Wall Street Analyst Weigh In

RGCO has been the topic of several analyst reports. Wall Street Zen lowered RGC Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RGC Resources in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently 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.