Insider Buying: RGC Resources, Inc. (NASDAQ:RGCO) Director Acquires 995 Shares of Stock

RGC Resources, Inc. (NASDAQ:RGCO) Director Robert B. Johnston purchased 995 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $19.77 per share, for a total transaction of $19,671.15. Following the acquisition, the director now directly owns 64,000 shares in the company, valued at approximately $1,265,280. The trade was a 1.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

RGC Resources Price Performance

Shares of RGC Resources stock opened at $20.26 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.52 and a current ratio of 0.87. RGC Resources, Inc. has a 52-week low of $17.90 and a 52-week high of $24.20. The company has a fifty day moving average of $20.83 and a 200-day moving average of $20.77. The stock has a market capitalization of $207.93 million, a price-to-earnings ratio of 17.47 and a beta of 0.17.

RGC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 17th will be issued a $0.2075 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.83 annualized dividend and a dividend yield of 4.10%. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s payout ratio is currently 71.55%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered RGC Resources from a “hold” rating to a “sell” rating in a research report on Thursday.

Institutional Investors Weigh In On RGC Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC increased its stake in RGC Resources by 16.4% in the 2nd quarter. Gabelli Funds LLC now owns 224,206 shares of the energy company’s stock worth $4,585,000 after purchasing an additional 31,651 shares during the period. Cutter & CO Brokerage Inc. increased its stake in shares of RGC Resources by 18.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 137,948 shares of the energy company’s stock worth $3,113,000 after buying an additional 21,489 shares during the period. Barclays PLC raised its holdings in RGC Resources by 257.3% during the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock valued at $247,000 after buying an additional 7,879 shares during the last quarter. Geode Capital Management LLC raised its holdings in RGC Resources by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company’s stock valued at $4,429,000 after buying an additional 7,701 shares during the last quarter. Finally, Fruth Investment Management boosted its position in RGC Resources by 10.1% during the 3rd quarter. Fruth Investment Management now owns 13,100 shares of the energy company’s stock valued at $295,000 after buying an additional 1,198 shares during the period. Institutional investors own 35.77% of the company’s stock.

RGC Resources Company Profile

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 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.