RGC Resources Inc. (NASDAQ:RGCO – Get Free Report) Director John Williamson III acquired 1,000 shares of RGC Resources stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased at an average cost of $21.30 per share, for a total transaction of $21,300.00. Following the purchase, the director directly owned 178,010 shares of the company’s stock, valued at approximately $3,791,613. This trade represents a 0.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
RGC Resources Stock Up 0.3%
Shares of NASDAQ RGCO opened at $21.73 on Friday. RGC Resources Inc. has a 1 year low of $20.55 and a 1 year high of $27.99. The firm’s 50 day moving average price is $22.71 and its 200 day moving average price is $22.60. The firm has a market cap of $226.43 million, a P/E ratio of 16.22 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.67 and a current ratio of 0.94.
RGC Resources (NASDAQ:RGCO – Get Free Report) last issued its quarterly earnings results 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). RGC Resources had a net margin of 13.05% and a return on equity of 11.73%. The business had revenue of $17.11 million during the quarter, compared to analyst estimates of $18.19 million.
RGC Resources Announces Dividend
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in RGC Resources by 0.9% during the second quarter. Geode Capital Management LLC now owns 198,394 shares of the energy company’s stock valued at $4,441,000 after acquiring an additional 1,701 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of RGC Resources by 0.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 403,414 shares of the energy company’s stock worth $9,028,000 after purchasing an additional 2,486 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of RGC Resources by 440.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,821 shares of the energy company’s stock valued at $63,000 after purchasing an additional 2,299 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of RGC Resources by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,602 shares of the energy company’s stock valued at $36,000 after purchasing an additional 1,068 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of RGC Resources by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,678 shares of the energy company’s stock worth $284,000 after purchasing an additional 2,502 shares during the period. 35.77% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of RGC Resources in a research note on Friday, August 7th. Wall Street Zen downgraded shares of RGC Resources from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.
Get Our Latest Analysis on RGCO
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.
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