RGC Resources, Inc. (NASDAQ:RGCO) Director Purchases $19,639.62 in Stock

RGC Resources, Inc. (NASDAQ:RGCOGet Rating) Director Robert B. Johnston bought 1,001 shares of RGC Resources stock in a transaction dated Wednesday, June 15th. The stock was purchased at an average cost of $19.62 per share, with a total value of $19,639.62. Following the completion of the acquisition, the director now directly owns 52,500 shares in the company, valued at approximately $1,030,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of RGCO traded down $0.03 during mid-day trading on Thursday, reaching $19.43. The stock had a trading volume of 458 shares, compared to its average volume of 8,993. RGC Resources, Inc. has a 12 month low of $19.34 and a 12 month high of $26.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.89. The firm has a market cap of $163.64 million, a price-to-earnings ratio of -8.14 and a beta of -0.28. The business has a fifty day moving average of $20.65 and a 200 day moving average of $21.59.

RGC Resources (NASDAQ:RGCOGet Rating) last issued its earnings results on Thursday, May 5th. The energy company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). RGC Resources had a negative net margin of 25.31% and a positive return on equity of 9.13%. The firm had revenue of $29.53 million for the quarter, compared to the consensus estimate of $30.00 million. On average, research analysts forecast that RGC Resources, Inc. will post 1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 15th will be issued a $0.195 dividend. The ex-dividend date is Thursday, July 14th. This represents a $0.78 annualized dividend and a dividend yield of 4.01%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its position in RGC Resources by 14.3% in the first quarter. State Street Corp now owns 21,968 shares of the energy company’s stock valued at $470,000 after acquiring an additional 2,750 shares during the last quarter. UBS Group AG increased its position in RGC Resources by 0.6% during the 1st quarter. UBS Group AG now owns 99,322 shares of the energy company’s stock worth $2,147,000 after purchasing an additional 597 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in RGC Resources by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 112,773 shares of the energy company’s stock worth $2,411,000 after acquiring an additional 986 shares during the period. Bank of New York Mellon Corp grew its holdings in RGC Resources by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 50,042 shares of the energy company’s stock valued at $1,082,000 after purchasing an additional 1,462 shares in the last quarter. Finally, Boston Partners boosted its stake in RGC Resources by 27.6% during the 1st quarter. Boston Partners now owns 15,275 shares of the energy company’s stock valued at $327,000 after acquiring an additional 3,300 shares during the last quarter.

A number of research firms have recently commented on RGCO. StockNews.com started coverage on RGC Resources in a research note on Tuesday. They issued a “sell” rating on the stock. TheStreet cut shares of RGC Resources from a “b-” rating to a “c-” rating in a research report on Thursday, May 5th.

About RGC Resources (Get Rating)

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,157 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 6 metering stations.

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