JPMorgan Chase & Co. Grows Stock Holdings in RGC Resources, Inc. (NASDAQ:RGCO)

JPMorgan Chase & Co. boosted its holdings in RGC Resources, Inc. (NASDAQ:RGCO) by 105.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,129 shares of the energy company’s stock after purchasing an additional 15,434 shares during the quarter. JPMorgan Chase & Co.’s holdings in RGC Resources were worth $604,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of RGC Resources by 257.3% during the 3rd quarter. Barclays PLC now owns 10,941 shares of the energy company’s stock worth $247,000 after acquiring an additional 7,879 shares in the last quarter. Fruth Investment Management lifted its stake in RGC Resources by 5.3% during the fourth quarter. Fruth Investment Management now owns 13,800 shares of the energy company’s stock worth $276,000 after purchasing an additional 700 shares during the last quarter. State Street Corp boosted its holdings 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 purchasing an additional 592 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 during the last quarter. Hedge funds and other institutional investors own 35.77% of the company’s stock.

Analysts Set New Price Targets

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

RGC Resources Stock Up 4.1 %

RGCO opened at $21.28 on Wednesday. RGC Resources, Inc. has a one year low of $19.05 and a one year high of $24.20. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.56. The stock has a market capitalization of $219.12 million, a P/E ratio of 18.19 and a beta of 0.31. The business’s 50-day simple moving average is $20.93 and its 200-day simple moving average is $20.78.

RGC Resources (NASDAQ:RGCO) last issued its quarterly earnings data on Monday, February 10th. The energy company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. RGC Resources had a return on equity of 10.94% and a net margin of 13.73%. Analysts anticipate that RGC Resources, Inc. will post 1.23 EPS for the current year.

RGC Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 3.90%. RGC Resources’s dividend payout ratio is presently 70.94%.

RGC Resources Company 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.