Robert B. Johnston Buys 995 Shares of RGC Resources, Inc. (NASDAQ:RGCO) Stock

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

RGC Resources Trading Up 3.1 %

NASDAQ:RGCO opened at $20.26 on Friday. The company has a 50-day moving average price of $20.83 and a 200-day moving average price of $20.77. The stock 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 current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 1.26. RGC Resources, Inc. has a 12 month low of $17.90 and a 12 month high of $24.20.

RGC Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders 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 yield of 4.10%. This is a boost from RGC Resources’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, January 17th. RGC Resources’s payout ratio is presently 71.55%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gabelli Funds LLC boosted its position 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 purchasing an additional 31,651 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $4,429,000 after buying an additional 7,701 shares during the period. Cutter & CO Brokerage Inc. boosted its holdings in shares of 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 buying an additional 21,489 shares in the last quarter. State Street Corp grew its position in shares of RGC Resources by 0.6% in the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company’s stock worth $2,368,000 after buying an additional 592 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of RGC Resources by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 43,433 shares of the energy company’s stock worth $888,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

About RGC Resources

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.