Orazio John S. D Sells 608 Shares of RGC Resources Inc. (RGCO) Stock

RGC Resources Inc. (NASDAQ:RGCO) CEO Orazio John S. D sold 608 shares of RGC Resources stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $27.66, for a total value of $16,817.28. Following the transaction, the chief executive officer now owns 37,763 shares of the company’s stock, valued at approximately $1,044,524.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ RGCO traded down $0.46 during trading on Friday, reaching $26.54. 4,912 shares of the company traded hands, compared to its average volume of 5,405. The firm has a market capitalization of $216.10 million, a P/E ratio of 27.94 and a beta of -0.15. RGC Resources Inc. has a 12-month low of $22.16 and a 12-month high of $31.33. 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 (NASDAQ:RGCO) last released its quarterly earnings data on Thursday, November 15th. The energy company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. The business had revenue of $9.97 million during the quarter, compared to analyst estimates of $10.40 million. RGC Resources had a return on equity of 9.40% and a net margin of 11.14%. As a group, analysts forecast that RGC Resources Inc. will post 1.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Tuesday, January 15th will be paid a dividend of $0.165 per share. The ex-dividend date is Monday, January 14th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from RGC Resources’s previous quarterly dividend of $0.16. RGC Resources’s dividend payout ratio (DPR) is presently 65.26%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of RGC Resources by 0.7% during the 3rd quarter. BlackRock Inc. now owns 356,328 shares of the energy company’s stock valued at $9,517,000 after buying an additional 2,630 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of RGC Resources by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 290,295 shares of the energy company’s stock valued at $7,754,000 after purchasing an additional 2,952 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of RGC Resources by 3.5% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 132,737 shares of the energy company’s stock valued at $3,545,000 after purchasing an additional 4,509 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of RGC Resources by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 110,244 shares of the energy company’s stock valued at $2,944,000 after purchasing an additional 6,736 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of RGC Resources by 3.5% in the 2nd quarter. Northern Trust Corp now owns 81,927 shares of the energy company’s stock valued at $2,390,000 after purchasing an additional 2,762 shares in the last quarter.

Separately, Zacks Investment Research upgraded RGC Resources from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Friday, August 10th.

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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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