RGC Resources Inc. (NASDAQ:RGCO) VP Robert L. Wells II sold 1,000 shares of RGC Resources stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $28.00, for a total transaction of $28,000.00. Following the sale, the vice president now directly owns 12,549 shares in the company, valued at $351,372. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RGCO traded down $0.58 during trading on Thursday, reaching $26.85. 146 shares of the company’s stock were exchanged, compared to its average volume of 5,429. RGC Resources Inc. has a one year low of $22.16 and a one year high of $31.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.65 and a quick ratio of 0.29. The firm has a market capitalization of $219.54 million, a price-to-earnings ratio of 28.89 and a beta of -0.15.

RGC Resources (NASDAQ:RGCO) last posted its earnings results on Thursday, November 15th. The energy company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. RGC Resources had a net margin of 11.14% and a return on equity of 9.40%. The firm had revenue of $9.97 million for the quarter, compared to analyst estimates of $10.40 million. As a group, equities research analysts predict that RGC Resources Inc. will post 1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Tuesday, January 15th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.46%. This is a positive change from RGC Resources’s previous quarterly dividend of $0.16. The ex-dividend date is Monday, January 14th. RGC Resources’s payout ratio is presently 65.26%.

A number of institutional investors and hedge funds have recently bought and sold shares of RGCO. BlackRock Inc. grew its holdings in RGC Resources by 25.0% during the 2nd quarter. BlackRock Inc. now owns 353,698 shares of the energy company’s stock worth $10,321,000 after acquiring an additional 70,846 shares during the last quarter. Captrust Financial Advisors grew its holdings in RGC Resources by 1,902.2% during the 3rd quarter. Captrust Financial Advisors now owns 36,040 shares of the energy company’s stock worth $963,000 after acquiring an additional 34,240 shares during the last quarter. Renaissance Technologies LLC bought a new stake in RGC Resources during the 3rd quarter worth approximately $296,000. First Trust Advisors LP bought a new stake in RGC Resources during the 2nd quarter worth approximately $227,000. Finally, Dimensional Fund Advisors LP grew its holdings in RGC Resources by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 103,508 shares of the energy company’s stock worth $3,020,000 after acquiring an additional 7,498 shares during the last quarter.

Separately, Zacks Investment Research raised shares of RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Friday, August 10th.

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About RGC Resources

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.

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