Chesapeake Utilities Corporation (CPK) Position Decreased by Chicago Equity Partners LLC
Chicago Equity Partners LLC reduced its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 30,133 shares of the company’s stock after selling 245 shares during the period. Chicago Equity Partners LLC owned 0.20% of Chesapeake Utilities Corporation worth $1,840,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CPK. Emerald Acquisition Ltd. bought a new stake in shares of Chesapeake Utilities Corporation during the second quarter worth approximately $3,005,000. Miller Howard Investments Inc. NY boosted its stake in shares of Chesapeake Utilities Corporation by 176.0% in the third quarter. Miller Howard Investments Inc. NY now owns 55,086 shares of the company’s stock worth $3,364,000 after buying an additional 35,124 shares during the period. Albert D Mason Inc. boosted its stake in shares of Chesapeake Utilities Corporation by 112.9% in the third quarter. Albert D Mason Inc. now owns 40,206 shares of the company’s stock worth $2,455,000 after buying an additional 21,319 shares during the period. ProShare Advisors LLC boosted its stake in shares of Chesapeake Utilities Corporation by 149.3% in the second quarter. ProShare Advisors LLC now owns 32,642 shares of the company’s stock worth $2,160,000 after buying an additional 19,551 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Chesapeake Utilities Corporation during the second quarter worth approximately $1,143,000. 57.14% of the stock is owned by institutional investors.
Chesapeake Utilities Corporation (NYSE:CPK) opened at 64.80 on Friday. The firm’s 50-day moving average price is $66.44 and its 200-day moving average price is $64.10. Chesapeake Utilities Corporation has a 52-week low of $55.75 and a 52-week high of $70.00. The firm has a market cap of $1.06 billion, a P/E ratio of 23.98 and a beta of 0.19.
Chesapeake Utilities Corporation (NYSE:CPK) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.11. The company earned $108.35 million during the quarter, compared to analyst estimates of $100.70 million. Chesapeake Utilities Corporation had a return on equity of 11.34% and a net margin of 8.98%. Chesapeake Utilities Corporation’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Equities research analysts expect that Chesapeake Utilities Corporation will post $2.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were issued a $0.305 dividend. The ex-dividend date was Tuesday, December 13th. This represents a $1.22 dividend on an annualized basis and a yield of 1.88%. Chesapeake Utilities Corporation’s payout ratio is currently 45.19%.
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A number of analysts recently issued reports on CPK shares. Zacks Investment Research raised Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Friday, September 30th. Seaport Global Securities started coverage on Chesapeake Utilities Corporation in a research note on Friday, December 2nd. They set a “neutral” rating and a $65.00 target price for the company. Wells Fargo & Company started coverage on Chesapeake Utilities Corporation in a research note on Tuesday, November 29th. They set a “market perform” rating for the company. Finally, Ladenburg Thalmann started coverage on Chesapeake Utilities Corporation in a research note on Friday, December 9th. They set a “neutral” rating and a $67.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.60.
In other Chesapeake Utilities Corporation news, insider John R. Schimkaitis sold 500 shares of Chesapeake Utilities Corporation stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $67.59, for a total value of $33,795.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.36% of the stock is owned by company insiders.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. It provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.
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