RGC Resources, Inc. (NASDAQ:RGCO) Director Acquires $19,671.15 in Stock

RGC Resources, Inc. (NASDAQ:RGCO) Director Robert B. Johnston bought 995 shares of RGC Resources stock in a transaction that occurred on Thursday, December 19th. The stock was bought at an average price of $19.77 per share, with a total value of $19,671.15. Following the purchase, the director now owns 64,000 shares of the company’s stock, valued at $1,265,280. This trade represents a 1.58 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

RGC Resources Stock Performance

NASDAQ RGCO opened at $20.26 on Monday. The stock has a market cap of $207.93 million, a P/E ratio of 17.47 and a beta of 0.17. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 1.26. RGC Resources, Inc. has a twelve month low of $17.90 and a twelve month high of $24.20. The company’s 50-day simple moving average is $20.83 and its 200 day simple moving average is $20.77.

RGC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 17th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Friday, January 17th. This is an increase from RGC Resources’s previous quarterly dividend of $0.20. RGC Resources’s dividend payout ratio (DPR) is 71.55%.

Institutional Trading of RGC Resources

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

Analyst Upgrades and Downgrades

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

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.