Gold prices steady ahead of Fed decision; weekly weakness noted
RGC Resources Inc . (NASDAQ:RGCO) President and CEO Paul W. Nester recently purchased 500 shares of the company’s common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on March 3, 2025, was executed at a price of $19.7582 per share, amounting to a total of $9,879. The purchase price represents a slight discount to the current trading price of $19.95, with InvestingPro analysis indicating the stock is currently fairly valued.
Following this acquisition, Nester’s direct ownership in the company stands at approximately 118,475 shares. This figure includes shares acquired through the company’s Dividend Reinvestment Stock Purchase Plan and the Restricted Stock Plan, as noted in the filing’s footnotes. The company has maintained dividend payments for 32 consecutive years, with a current dividend yield of 4.2%.
Nester, who serves as both a director and the President & CEO of RGC Resources, continues to play a significant role in the company’s leadership and strategic direction. RGC Resources is a Virginia-based company involved in natural gas transmission and distribution.
In other recent news, RGC Resources Inc. reported its first-quarter financial results for fiscal year 2024, surpassing Wall Street expectations. The company achieved earnings per share (EPS) of $0.51, slightly above the forecasted $0.50, and generated revenue of $27.29 million, exceeding the anticipated $26 million. This performance reflects a strong start to the fiscal year, with net income rising to $5.3 million compared to $5.0 million in the same quarter last year. The company benefited from higher rates implemented in July, which boosted Roanoke Gas margins, although equity earnings from unconsolidated affiliates declined, and interest expenses rose. Despite these challenges, RGC Resources remains optimistic about its future, projecting an EPS range of $1.18 to $1.25 for fiscal year 2025. The company plans to refinance a $25 million non-revolving line of credit by the end of 2025 and anticipates renewing the Roanoke Gas line of credit. CEO Paul Nestor highlighted the company’s operational resilience, emphasizing ongoing expansion efforts and the absence of customer outages during recent cold weather events.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.