Trust Co. of Virginia VA Purchases New Position in RGC Resources, Inc. (NASDAQ:RGCO)

Trust Co. of Virginia VA purchased a new stake in RGC Resources, Inc. (NASDAQ:RGCOGet Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 52,913 shares of the energy company’s stock, valued at approximately $1,144,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cutter & CO Brokerage Inc. boosted its holdings in shares of RGC Resources by 6.3% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 122,486 shares of the energy company’s stock valued at $2,818,000 after purchasing an additional 7,303 shares during the period. Massmutual Trust Co. FSB ADV bought a new position in RGC Resources in the fourth quarter worth approximately $45,000. Geode Capital Management LLC raised its stake in RGC Resources by 2.1% in the third quarter. Geode Capital Management LLC now owns 77,604 shares of the energy company’s stock worth $1,757,000 after buying an additional 1,559 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in RGC Resources by 0.9% in the fourth quarter. North Star Investment Management Corp. now owns 61,475 shares of the energy company’s stock worth $1,415,000 after buying an additional 525 shares in the last quarter.

In other news, Director John B. Williamson III bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were purchased at an average cost of $20.40 per share, with a total value of $61,200.00. Following the transaction, the director now directly owns 146,433 shares in the company, valued at $2,987,233.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Williamson III purchased 4,000 shares of the stock in a transaction on Friday, May 13th. The stock was acquired at an average cost of $19.81 per share, for a total transaction of $79,240.00. Following the completion of the acquisition, the director now owns 153,433 shares of the company’s stock, valued at approximately $3,039,507.73. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 16,662 shares of company stock worth $317,886. 6.60% of the stock is owned by insiders.

Shares of RGCO stock opened at $20.33 on Friday. The business’s fifty day simple moving average is $20.01 and its 200-day simple moving average is $21.27. The company has a market cap of $171.22 million, a PE ratio of -8.51 and a beta of -0.28. The company has a current ratio of 0.89, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. RGC Resources, Inc. has a 12-month low of $18.01 and a 12-month high of $26.02.

RGC Resources (NASDAQ:RGCOGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The business had revenue of $29.53 million for the quarter, compared to analyst estimates of $30.00 million. RGC Resources had a positive return on equity of 9.13% and a negative net margin of 25.31%. On average, equities analysts forecast that RGC Resources, Inc. will post 1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 15th will be given a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, July 14th.

A number of equities analysts recently commented on RGCO shares. TheStreet downgraded shares of RGC Resources from a “b-” rating to a “c-” rating in a research note on Thursday, May 5th. StockNews.com started coverage on shares of RGC Resources in a research note on Thursday. They issued a “sell” rating for the company.

RGC Resources Profile (Get Rating)

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 1,157 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 6 metering stations.

Further Reading

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Institutional Ownership by Quarter for RGC Resources (NASDAQ:RGCO)

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