JPMorgan Chase & Co. Acquires 15,434 Shares of RGC Resources, Inc. (NASDAQ:RGCO)

JPMorgan Chase & Co. boosted its holdings in RGC Resources, Inc. (NASDAQ:RGCO - Free Report) by 105.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,129 shares of the energy company's stock after purchasing an additional 15,434 shares during the period. JPMorgan Chase & Co. owned about 0.29% of RGC Resources worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RGCO. Geode Capital Management LLC grew its holdings in shares of RGC Resources by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company's stock valued at $4,429,000 after acquiring an additional 7,701 shares in the last quarter. State Street Corp increased its position in shares of RGC Resources by 0.6% during the 3rd quarter. State Street Corp now owns 104,929 shares of the energy company's stock worth $2,368,000 after purchasing an additional 592 shares during the last quarter. Fruth Investment Management raised its stake in shares of RGC Resources by 5.3% during the 4th quarter. Fruth Investment Management now owns 13,800 shares of the energy company's stock worth $276,000 after purchasing an additional 700 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of RGC Resources by 257.3% in the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company's stock valued at $247,000 after buying an additional 7,879 shares during the last quarter. 35.77% of the stock is currently owned by institutional investors and hedge funds.

RGC Resources Stock Performance

RGC Resources stock traded up $0.60 during midday trading on Friday, reaching $21.70. 11,061 shares of the company's stock were exchanged, compared to its average volume of 12,200. The stock's 50-day simple moving average is $20.99 and its 200 day simple moving average is $20.78. The firm has a market cap of $223.44 million, a price-to-earnings ratio of 18.55 and a beta of 0.31. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56. RGC Resources, Inc. has a 52 week low of $19.05 and a 52 week high of $24.20.

RGC Resources (NASDAQ:RGCO - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The energy company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. RGC Resources had a net margin of 13.73% and a return on equity of 10.94%. On average, analysts expect that RGC Resources, Inc. will post 1.23 earnings per share for the current fiscal year.

RGC Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.2075 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.83 dividend on an annualized basis and a yield of 3.82%. RGC Resources's dividend payout ratio (DPR) is currently 70.94%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of RGC Resources from a "sell" rating to a "hold" rating in a research report on Tuesday, February 18th.

RGC Resources Profile

RGC Resources, Inc, through its subsidiaries, operates as an energy services company. It sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. The company also provides various unregulated services. It operates approximately 1,179 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates six metering stations.