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ROANOKE, Va.—Oliver Lawrence T., Vice President and Secretary of RGC Resources Inc . (NASDAQ:RGCO), has made a purchase of the company’s common stock, according to a recent SEC filing. On February 3, Lawrence acquired 9.728 shares at a price of $20.56 each, totaling approximately $200. This transaction was part of the RGC Resources, Inc. Dividend Reinvestment and Stock Purchase Plan. The company, currently trading at $20.78, offers a notable 4.07% dividend yield and has maintained dividend payments for 32 consecutive years, with 11 straight years of dividend increases, according to InvestingPro data.
Following this transaction, Lawrence now holds a total of 23,287.09 shares of RGC Resources common stock. This includes shares acquired through reinvestment plans and restricted stock plans on the same date. InvestingPro analysis shows the company maintains a FAIR financial health score, with several additional dividend-focused insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of over 1,400 US stocks.
In other recent news, RGC Resources has delivered a robust financial performance despite several challenges. The company exceeded earnings per share (EPS) expectations for the fourth quarter of 2024, posting an EPS of $0.01 against a forecasted loss of $0.01. However, it experienced a significant decline in its net income, dropping to $141,000 from $1 million in the same period last year.
The company’s revenue reached $13.1 million, surpassing the forecasted $13 million. Despite these positive earnings, RGC Resources’ stock fell by 4.29% in after-hours trading, reflecting investor concerns about the company’s reduced net income and broader economic challenges.
RGC Resources is also facing industry challenges such as inflationary pressures and increased interest costs. For 2025, the company forecasts earnings per share between $1.18 and $1.25 and plans to invest $21.6 million in capital spending. It has also announced a 4% dividend increase to $0.83 annually.
Additionally, RGC Resources is exploring potential expansion opportunities for the Mountain Valley Pipeline (MVP). CEO Paul Nestor expressed optimism about the company’s growth prospects, underscoring the strategic importance of the MVP pipeline and its capacity for future expansion. These are among the recent developments for RGC Resources.
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