RGC Resources, Inc. (NASDAQ:RGCO) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in RGC Resources, Inc. (NASDAQ:RGCO - Free Report) by 105.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,129 shares of the energy company's stock after buying 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 SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in RGC Resources by 4.1% in the third quarter. Geode Capital Management LLC now owns 196,205 shares of the energy company's stock valued at $4,429,000 after purchasing an additional 7,701 shares in the last quarter. State Street Corp lifted its position in RGC Resources by 0.6% in the third quarter. State Street Corp now owns 104,929 shares of the energy company's stock valued at $2,368,000 after acquiring an additional 592 shares during the last quarter. Fruth Investment Management boosted its stake in RGC Resources by 5.3% in the fourth quarter. Fruth Investment Management now owns 13,800 shares of the energy company's stock valued at $276,000 after acquiring an additional 700 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of RGC Resources by 257.3% during the third quarter. Barclays PLC now owns 10,941 shares of the energy company's stock worth $247,000 after purchasing an additional 7,879 shares during the last quarter. 35.77% of the stock is owned by hedge funds and other institutional investors.

RGC Resources Stock Performance

RGCO stock traded down $0.47 on Monday, hitting $21.24. The company's stock had a trading volume of 844 shares, compared to its average volume of 12,154. The company has a current ratio of 0.56, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00. The stock has a market cap of $218.66 million, a price-to-earnings ratio of 18.15 and a beta of 0.31. RGC Resources, Inc. has a 1 year low of $19.05 and a 1 year high of $24.20. The firm has a 50 day moving average of $20.99 and a two-hundred day moving average of $20.77.

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

RGC Resources Announces Dividend

The firm also recently disclosed 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 is Friday, July 18th. This represents a $0.83 dividend on an annualized basis and a yield of 3.91%. RGC Resources's payout ratio is 70.94%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised 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.