Summit Financial Group Inc. bought a new stake in shares of RGC Resources Inc. (NASDAQ:RGCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 97,483 shares of the energy company’s stock, valued at approximately $2,762,000. RGC Resources accounts for about 2.4% of Summit Financial Group Inc.’s portfolio, making the stock its 9th largest position. Summit Financial Group Inc. owned 1.35% of RGC Resources as of its most recent filing with the SEC.
Shares of RGC Resources Inc. (RGCO) traded up 5.20% on Friday, hitting $27.33. 33,598 shares of the stock traded hands. The firm has a market cap of $197.65 million, a P/E ratio of 31.67 and a beta of 0.12. RGC Resources Inc. has a 12-month low of $15.41 and a 12-month high of $31.99. The firm’s 50-day moving average is $27.41 and its 200 day moving average is $23.55.
RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings results on Monday, July 31st. The energy company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $11.44 million during the quarter. RGC Resources had a net margin of 10.01% and a return on equity of 10.70%.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 17th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, July 13th. RGC Resources’s dividend payout ratio is presently 67.70%.
TRADEMARK VIOLATION NOTICE: This piece was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://stocknewstimes.com/2017/08/19/97483-shares-in-rgc-resources-inc-nasdaqrgco-acquired-by-summit-financial-group-inc-updated.html.
In other RGC Resources news, VP C James Shockley, Jr. sold 4,500 shares of RGC Resources stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $27.11, for a total value of $121,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 317 shares of company stock valued at $8,572. 8.40% of the stock is currently owned by corporate insiders.
RGC Resources Company Profile
RGC Resources, Inc (Resources) is an energy services company. The Company is engaged in the regulated sale and distribution of natural gas to residential, commercial and industrial customers in Roanoke, Virginia, and the surrounding localities, through its Roanoke Gas Company (Roanoke Gas) subsidiary.
Receive News & Ratings for RGC Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RGC Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
