Paul Nester Buys 500 Shares of RGC Resources (NASDAQ:RGCO) Stock

RGC Resources Inc. (NASDAQ:RGCO) CEO Paul Nester purchased 500 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were acquired at an average cost of $21.30 per share, with a total value of $10,650.00. Following the acquisition, the chief executive officer directly owned 134,213 shares in the company, valued at approximately $2,858,736.90. The trade was 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 Trading Down 1.5%

RGCO stock opened at $21.32 on Friday. RGC Resources Inc. has a one year low of $20.55 and a one year high of $27.99. The stock has a market cap of $222.15 million, a price-to-earnings ratio of 15.91 and a beta of 0.52. The company has a fifty day moving average price of $22.44 and a two-hundred day moving average price of $22.61. 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) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $17.11 million during the quarter, compared to the consensus estimate of $18.19 million. RGC Resources had a net margin of 13.05% and a return on equity of 11.73%.

RGC Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 17th were issued a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, July 17th. RGC Resources’s dividend payout ratio is currently 64.93%.

Institutional Investors Weigh In On RGC Resources

Institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its position in RGC Resources by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock worth $36,000 after acquiring an additional 1,068 shares during the period. BNP Paribas Financial Markets boosted its holdings in RGC Resources by 80.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,816 shares of the energy company’s stock valued at $41,000 after purchasing an additional 812 shares during the period. California State Teachers Retirement System grew its position in shares of RGC Resources by 518.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,772 shares of the energy company’s stock worth $66,000 after purchasing an additional 2,324 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of RGC Resources by 440.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock worth $63,000 after purchasing an additional 2,299 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of RGC Resources during the fourth quarter worth approximately $103,000. Institutional investors own 35.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RGCO shares. Weiss Ratings restated a “buy (b)” rating on shares of RGC Resources in a report on Friday, August 7th. Wall Street Zen lowered RGC Resources from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

About RGC Resources

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.