RGC Resources Inc. (NASDAQ:RGCO) VP C James Shockley, Jr. sold 2,900 shares of the firm’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $28.00, for a total transaction of $81,200.00. Following the completion of the transaction, the vice president now directly owns 6,568 shares in the company, valued at $183,904. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of RGC Resources stock opened at $27.43 on Thursday. The company has a market cap of $219.54 million, a P/E ratio of 28.87 and a beta of -0.15. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.65. RGC Resources Inc. has a 1 year low of $22.16 and a 1 year high of $31.33.
RGC Resources (NASDAQ:RGCO) last announced its quarterly earnings results on Thursday, November 15th. The energy company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $9.97 million for the quarter, compared to analyst estimates of $10.40 million. RGC Resources had a net margin of 11.14% and a return on equity of 9.40%. Equities research analysts forecast that RGC Resources Inc. will post 1 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Tuesday, January 15th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, January 14th. This is a positive change from RGC Resources’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 2.41%. RGC Resources’s payout ratio is 65.26%.
Separately, Zacks Investment Research raised shares of RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Friday, August 10th.
Several institutional investors have recently made changes to their positions in RGCO. BlackRock Inc. grew its holdings in shares of RGC Resources by 25.0% during the 2nd quarter. BlackRock Inc. now owns 353,698 shares of the energy company’s stock valued at $10,321,000 after purchasing an additional 70,846 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of RGC Resources by 1,902.2% during the 3rd quarter. Captrust Financial Advisors now owns 36,040 shares of the energy company’s stock valued at $963,000 after purchasing an additional 34,240 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of RGC Resources during the 3rd quarter valued at approximately $296,000. First Trust Advisors LP bought a new stake in shares of RGC Resources during the 2nd quarter valued at approximately $227,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of RGC Resources by 7.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 103,508 shares of the energy company’s stock valued at $3,020,000 after purchasing an additional 7,498 shares during the last quarter.
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RGC Resources Company Profile
RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,135 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility located in Botetourt County, as well as owns and operates 8 metering stations.
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