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Oliver Lawrence T., Vice President and Secretary of RGC Sources Inc . (NASDAQ:RGCO), a $206 million market cap utility firm at the moment buying and selling close to $20.11, reported buying a big quantity of the corporate’s inventory. In response to InvestingPro knowledge, RGCO affords a beautiful 4.14% dividend yield and has raised dividends for 11 consecutive years. On January 2, Lawrence bought 5,097 shares of frequent inventory valued at $101,940, with every share priced at $20. This acquisition was a part of an award underneath the Restricted Inventory Plan, with shares set to vest over a three-year interval.
Moreover, Lawrence made a smaller buy of 10 shares on the identical value, totaling $200. These transactions mirror Lawrence’s rising stake within the firm, together with his post-transaction holdings amounting to 23,074.76 shares, together with 5,577 shares of unvested restricted inventory.
In different latest information, RGC Sources Inc. reported better-than-expected earnings for the fourth quarter of 2024, posting earnings per share (EPS) of $0.01 towards a forecasted lack of $0.01. Regardless of surpassing the earnings forecast, the corporate’s inventory fell attributable to investor considerations over decrease internet earnings and different monetary challenges. RGC Sources’ income for the quarter was $13.1 million, exceeding the forecast of $13 million. Nevertheless, the corporate’s internet earnings for the quarter considerably declined to $141,000 from $1 million in the identical interval final 12 months.
Among the many latest developments, RGC Sources has introduced a 4% dividend improve to $0.83 yearly and is exploring potential enlargement alternatives for the Mountain Valley Pipeline (MVP). CEO Paul Nestor expressed optimism concerning the firm’s progress prospects, significantly of their service territory and the expansion potential of the MVP pipeline. Regardless of the earnings beat, RGC Sources’ inventory fell in after-hours buying and selling, indicating investor considerations concerning the firm’s lowered internet earnings and broader financial challenges.
Within the face of trade challenges akin to inflationary pressures and elevated curiosity prices, RGC Sources forecasts earnings per share between $1.18 and $1.25 for 2025. The corporate plans to take a position $21.6 million in capital spending. These latest developments spotlight the corporate’s strategic method to navigating the present market situations.
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