RGC Resources, Inc. (NASDAQ:RGCO) CEO Paul W. Nester Acquires 500 Shares

RGC Resources, Inc. (NASDAQ:RGCOGet Rating) CEO Paul W. Nester purchased 500 shares of RGC Resources stock in a transaction on Tuesday, December 6th. The shares were acquired at an average cost of $23.50 per share, for a total transaction of $11,750.00. Following the completion of the transaction, the chief executive officer now owns 70,054 shares of the company’s stock, valued at $1,646,269. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

RGC Resources Trading Up 2.6 %

Shares of RGCO stock opened at $22.57 on Friday. The stock has a market cap of $221.86 million, a price-to-earnings ratio of -6.34 and a beta of -0.12. The company has a quick ratio of 1.27, a current ratio of 1.59 and a debt-to-equity ratio of 1.46. RGC Resources, Inc. has a fifty-two week low of $18.01 and a fifty-two week high of $24.55. The firm’s 50 day moving average price is $22.23 and its two-hundred day moving average price is $21.09.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Wednesday, January 18th will be paid a dividend of $0.1975 per share. The ex-dividend date of this dividend is Tuesday, January 17th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 3.50%. This is a positive change from RGC Resources’s previous quarterly dividend of $0.20.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of RGC Resources by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 52,643 shares of the energy company’s stock worth $1,109,000 after purchasing an additional 1,011 shares in the last quarter. Belpointe Asset Management LLC lifted its position in shares of RGC Resources by 5.1% during the third quarter. Belpointe Asset Management LLC now owns 13,501 shares of the energy company’s stock worth $284,000 after purchasing an additional 659 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of RGC Resources by 19.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 47,265 shares of the energy company’s stock worth $995,000 after purchasing an additional 7,769 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of RGC Resources by 4.0% during the third quarter. Gabelli Funds LLC now owns 103,970 shares of the energy company’s stock worth $2,190,000 after purchasing an additional 3,970 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of RGC Resources by 11.5% during the third quarter. Royal Bank of Canada now owns 7,921 shares of the energy company’s stock worth $166,000 after purchasing an additional 818 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of RGC Resources in a research report on Wednesday. They set a “sell” rating on the stock.

RGC Resources Company Profile

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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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