Key Points
- Director John Williamson III purchased 1,000 RGC Resources shares at an average price of $21.30, investing $21,300 and increasing his direct holdings by 0.56% to 178,010 shares.
- RGCO shares opened at $21.67, with a market capitalization of approximately $225.8 million and a 4.0% indicated dividend yield. The company most recently reported quarterly EPS of $0.05, below the $0.06 analyst consensus, while revenue also missed estimates.
- Institutional investors and hedge funds own 35.77% of RGC Resources. Analyst sentiment remains positive overall, with the stock carrying a consensus “Buy” rating despite one recent downgrade to “Hold.”
RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) Director John Williamson III purchased 1,000 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was purchased at an average cost of $21.30 per share, for a total transaction of $21,300.00. Following the completion of the acquisition, the director directly owned 178,010 shares of the company's stock, valued at approximately $3,791,613. The trade was a 0.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
RGC Resources Stock Performance
Shares of RGCO stock opened at $21.67 on Thursday. RGC Resources Inc. has a 12-month low of $20.55 and a 12-month high of $27.99. The business's fifty day simple moving average is $22.77 and its 200-day simple moving average is $22.61. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 1.19. The company has a market cap of $225.80 million, a PE ratio of 16.17 and a beta of 0.52.
RGC Resources (NASDAQ:RGCO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $17.11 million during the quarter, compared to analyst estimates of $18.19 million.
RGC Resources Dividend Announcement
The firm 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. This represents a $0.87 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources's dividend payout ratio (DPR) is currently 64.93%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of RGCO. Martingale Asset Management L P lifted its holdings in shares of RGC Resources by 3.6% during the fourth quarter. Martingale Asset Management L P now owns 17,738 shares of the energy company's stock worth $378,000 after purchasing an additional 616 shares during the period. FCA Corp TX grew its holdings in RGC Resources by 1.9% in the 1st quarter. FCA Corp TX now owns 42,773 shares of the energy company's stock valued at $943,000 after buying an additional 795 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in shares of RGC Resources by 6.2% during the 2nd quarter. Hennessy Advisors Inc. now owns 13,754 shares of the energy company's stock worth $329,000 after acquiring an additional 800 shares during the period. BNP Paribas Financial Markets boosted its position in shares of RGC Resources by 80.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company's stock valued at $41,000 after acquiring an additional 812 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of RGC Resources by 200.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company's stock valued at $36,000 after purchasing an additional 1,068 shares during the period. 35.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of RGC Resources from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of RGC Resources in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, RGC Resources presently has a consensus rating of "Buy".
Read Our Latest Analysis on RGC Resources
RGC Resources Company Profile
(
Get Free Report)
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.
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