RGC Resources, Inc. (NASDAQ:RGCO) Director Robert B. Johnston Purchases 995 Shares

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

RGC Resources Stock Performance

NASDAQ:RGCO opened at $20.26 on Friday. The business’s fifty day moving average is $20.83 and its 200 day moving average is $20.77. The firm has a market cap of $207.93 million, a price-to-earnings ratio of 17.47 and a beta of 0.17. 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.

RGC Resources Increases Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On RGC Resources

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in RGC Resources by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 9,338 shares of the energy company’s stock worth $191,000 after purchasing an additional 497 shares in the last quarter. Barclays PLC increased its holdings in shares of RGC Resources by 257.3% in the third quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after purchasing an additional 7,879 shares during the period. Fruth Investment Management raised its position in shares of RGC Resources by 10.1% in 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. Cerity Partners LLC boosted its stake in RGC Resources by 4.6% during the third quarter. Cerity Partners LLC now owns 26,131 shares of the energy company’s stock valued at $590,000 after buying an additional 1,161 shares during the period. Finally, Renaissance Technologies LLC grew its position in RGC Resources by 1.4% during the second quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after buying an additional 600 shares in the last quarter. Hedge funds and other 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.