Key Points
- Director John Williamson III purchased 500 RGC Resources shares at $21.32 each, investing $10,660 and increasing his holdings to 179,819 shares.
- RGC Resources’ latest quarterly results missed analyst expectations, reporting EPS of $0.05 versus $0.06 expected and revenue of $17.11 million versus $18.19 million estimated.
- The company pays an annualized dividend of $0.87 per share, yielding approximately 4.1%; analysts maintain a consensus “Buy” rating with a $27 price target.
RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) Director John Williamson III purchased 500 shares of RGC Resources stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $21.32 per share, with a total value of $10,660.00. Following the transaction, the director owned 179,819 shares in the company, valued at $3,833,741.08. This represents a 0.28% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
RGC Resources Trading Up 0.8%
RGC Resources stock opened at $21.46 on Wednesday. RGC Resources Inc. has a 52 week low of $20.55 and a 52 week high of $27.99. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.67 and a current ratio of 0.94. The firm has a market capitalization of $223.61 million, a price-to-earnings ratio of 16.01 and a beta of 0.52. The company has a 50 day moving average price of $22.35 and a 200 day moving average price of $22.61.
RGC Resources (NASDAQ:RGCO - Get Free Report) last announced its 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). The firm had revenue of $17.11 million for the quarter, compared to analyst estimates of $18.19 million. RGC Resources had a net margin of 13.05% and a return on equity of 11.73%.
RGC Resources Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 17th were issued a dividend of $0.2175 per share. The ex-dividend date 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 currently 64.93%.
Analyst Ratings Changes
RGCO has been the subject of several research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of RGC Resources in a research note on Friday, August 7th. Wall Street Zen cut RGC Resources from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Huntington began coverage on RGC Resources in a report on Monday. They issued an "outperform" rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $27.00.
View Our Latest Research Report on RGC Resources
Institutional Investors Weigh In On RGC Resources
Institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. grew 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 valued at $329,000 after acquiring an additional 800 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of RGC Resources during the second quarter worth $3,272,000. BlackRock Inc. purchased a new stake in shares of RGC Resources during the second quarter worth $10,213,000. Deutsche Bank AG purchased a new stake in shares of RGC Resources during the second quarter worth $199,000. Finally, Bank of New York Mellon Corp acquired a new stake in RGC Resources during the second quarter valued at $1,717,000. Institutional investors and hedge funds own 35.77% of the company's stock.
RGC Resources Company Profile
(
Get Free Report)
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.
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