Key Points
- Director Robert Johnston purchased 1,070 RGC Resources shares at an average price of $20.74, investing $22,191.80 and increasing his ownership by 1.62% to 67,070 shares.
- RGC Resources reported quarterly EPS of $0.05 and revenue of $17.11 million, missing analysts’ estimates of $0.06 EPS and $18.19 million revenue.
- The company pays a quarterly dividend of $0.2175 per share, equivalent to $0.87 annually and a 4.1% yield. Analysts’ consensus rating remains “Buy,” with a $27 price target.
RGC Resources Inc. (NASDAQ:RGCO - Get Free Report) Director Robert Johnston bought 1,070 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was purchased at an average price of $20.74 per share, with a total value of $22,191.80. Following the acquisition, the director owned 67,070 shares of the company's stock, valued at $1,391,031.80. The trade was a 1.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.
RGC Resources Stock Up 2.4%
RGCO opened at $21.28 on Friday. 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 $221.74 million, a P/E ratio of 15.88 and a beta of 0.52. The company's 50-day moving average is $21.79 and its 200 day moving average is $22.55. 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 issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.05 earnings per share (EPS) 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 firm had revenue of $17.11 million during the quarter, compared to the consensus estimate of $18.19 million.
RGC Resources Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 17th were given a dividend of $0.2175 per share. This represents a $0.87 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources's dividend payout ratio (DPR) is presently 64.93%.
Analysts Set New Price Targets
A number of research firms have recently commented on RGCO. Weiss Ratings reiterated a "buy (b)" rating on shares of RGC Resources in a research note on Friday, August 7th. Wall Street Zen lowered shares of RGC Resources from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Huntington began coverage on shares of RGC Resources in a report on Monday, September 14th. They set an "outperform" rating and a $27.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, RGC Resources has an average rating of "Buy" and a consensus target price of $27.00.
Read Our Latest Analysis on RGC Resources
Institutional Trading of RGC Resources
A number of large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of RGC Resources during the 2nd quarter valued at $10,213,000. Ancora Advisors LLC purchased a new stake in RGC Resources in the 2nd quarter worth about $3,272,000. Bank of New York Mellon Corp bought a new stake in RGC Resources in the 2nd quarter valued at about $1,717,000. Oppenheimer Asset Management Inc. bought a new stake in RGC Resources in the 2nd quarter valued at about $248,000. Finally, Clearstead Advisors LLC purchased a new stake in RGC Resources during the fourth quarter valued at about $219,000. 35.77% of the stock is owned by hedge funds and other institutional investors.
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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