Miles Christen Brooke, Vice President of Human Resources at RGC Resources Inc . (NASDAQ:RGCO), a $213 million market cap utility company, recently acquired additional shares of the company's common stock. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with shares up 17.2% over the past year. According to a filing with the Securities and Exchange Commission, Brooke purchased 4.864 shares on February 3, 2025, at a price of $20.56 per share, totaling approximately $100. These shares were acquired through the RGC Resources Dividend Reinvestment and Stock Purchase Plan, which allows for optional cash contributions. The company has maintained dividend payments for 32 consecutive years and currently offers a 4.07% yield. Following this transaction, Brooke holds a total of 6,630.475 shares, including shares acquired through dividend reinvestment plans. With earnings scheduled for February 10, InvestingPro subscribers can access additional insights and a comprehensive Pro Research Report, including detailed analysis of insider transactions and dividend sustainability metrics.
In other recent news, RGC Resources Inc. recorded better-than-expected earnings for the fourth quarter of 2024, registering earnings per share (EPS) of $0.01 as opposed to a predicted loss of $0.01. Despite surpassing EPS expectations, the company's stock saw a decrease due to investor concerns over lower net income and other financial challenges. RGC Resources' revenue hit $13.1 million, surpassing the forecast of $13 million. However, the company's net income for the fourth quarter significantly dropped to $141,000 from $1 million in the same period last year.
These are among the recent developments for RGC Resources. The company's full-year net income demonstrated a slight increase, rising to $11.8 million from $11.3 million in 2023. On the flip side, capital spending fell to $22.1 million, down from $25.3 million in 2023. Looking ahead, RGC Resources forecasts earnings per share between $1.18 and $1.25 for 2025 and plans to invest $21.6 million in capital spending.
CEO Paul Nestor expressed optimism about the company’s growth prospects and highlighted the strategic importance of the Mountain Valley Pipeline for future expansion. Analysts inquired about the potential expansion of the MVP pipeline, with the company confirming that the pipeline currently flows 1.5 to 2 billion cubic feet per day and is valued at approximately $21 million.
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