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Robert B. Johnston, a director at RGC Resources Inc . (NASDAQ:RGCO), has recently purchased 400 shares of the company’s common stock. The transaction, which took place on March 3, 2025, was executed at a price of $19.68 per share, amounting to a total value of $7,872. According to InvestingPro data, the stock is currently trading slightly above its Fair Value, with a P/E ratio of 16.91. Following this acquisition, Johnston now holds 64,400 shares in the company. This purchase is part of Johnston’s ongoing investment in RGC Resources, a company engaged in the natural gas transmission and distribution sector. With a market capitalization of $205 million, RGC Resources has maintained dividend payments for 32 consecutive years and currently offers a 4.2% dividend yield. InvestingPro subscribers can access detailed financial health metrics and additional insights through comprehensive Pro Research Reports, available for over 1,400 US stocks.
In other recent news, RGC Resources Inc. announced its financial results for the first quarter of fiscal year 2024, surpassing Wall Street expectations. The company reported earnings per share of $0.51, slightly above the forecasted $0.50, and revenue of $27.29 million, exceeding the anticipated $26 million. This performance reflects a solid start to the fiscal year, with net income increasing to $5.3 million from $5.0 million in the same quarter last year. The company benefited from higher rates implemented in July, which boosted Roanoke Gas margins. However, RGC Resources faced challenges with decreased equity earnings from unconsolidated affiliates and increased interest expenses due to higher credit line balances and interest rates. Looking ahead, the company has provided an EPS forecast for fiscal year 2025 ranging between $1.18 and $1.25. RGC Resources also 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. The company continues to focus on expansion and service connections, with ongoing efforts to enhance system safety and reliability.
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