Key Points
- CEO insider buying: RGC Resources CEO Paul Nester purchased 500 shares at $21.30 each, investing $10,650 and increasing his ownership by 0.37% to 134,213 shares.
- Weak quarterly results: The company reported quarterly EPS of $0.05, below the $0.06 consensus estimate, while revenue of $17.11 million also fell short of the $18.19 million analyst forecast.
- Dividend and valuation: RGC Resources pays a quarterly dividend of $0.2175, or $0.87 annually, representing a 4.1% yield. Shares opened at $21.32, with a market capitalization of approximately $222 million and a P/E ratio of 15.91.
RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) CEO Paul Nester acquired 500 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average price of $21.30 per share, with a total value of $10,650.00. Following the completion of the transaction, the chief executive officer owned 134,213 shares in the company, valued at $2,858,736.90. This represents a 0.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
RGC Resources Stock Performance
Shares of RGC Resources stock opened at $21.32 on Friday. The company's 50 day moving average price is $22.44 and its two-hundred day moving average price is $22.61. The firm has a market capitalization of $222.15 million, a P/E ratio of 15.91 and a beta of 0.52. RGC Resources Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $27.99. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). RGC Resources had a return on equity of 11.73% and a net margin of 13.05%.The company had revenue of $17.11 million for the quarter, compared to analyst estimates of $18.19 million.
RGC Resources Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were issued a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, July 17th. RGC Resources's dividend payout ratio (DPR) is 64.93%.
Institutional Investors Weigh In On RGC Resources
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC bought a new position in shares of RGC Resources during the second quarter worth about $3,272,000. Bank of New York Mellon Corp bought a new stake in RGC Resources in the second quarter valued at approximately $1,717,000. BlackRock Inc. acquired a new stake in RGC Resources during the 2nd quarter valued at approximately $10,213,000. Deutsche Bank AG acquired a new stake in RGC Resources during the 2nd quarter valued at approximately $199,000. Finally, Hennessy Advisors Inc. raised its holdings in 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 purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 35.77% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on RGCO. Wall Street Zen lowered shares of RGC Resources from a "buy" rating to a "hold" rating in a report 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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, RGC Resources presently has an average rating of "Buy".
View Our Latest Report on RGCO
About RGC Resources
(
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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