Tufton Capital Management held its stake in Chesapeake Utilities Corp. (NYSE:CPK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,279 shares of the company’s stock at the end of the second quarter. Chesapeake Utilities Corp. makes up 1.4% of Tufton Capital Management’s portfolio, making the stock its 25th largest position. Tufton Capital Management owned 0.70% of Chesapeake Utilities Corp. worth $7,100,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CPK. BlackRock Group LTD raised its position in shares of Chesapeake Utilities Corp. by 19.9% in the first quarter. BlackRock Group LTD now owns 11,990 shares of the company’s stock valued at $755,000 after buying an additional 1,989 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Chesapeake Utilities Corp. by 1.4% in the first quarter. TIAA CREF Investment Management LLC now owns 62,515 shares of the company’s stock valued at $3,937,000 after buying an additional 886 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Chesapeake Utilities Corp. during the first quarter valued at approximately $386,000. Geode Capital Management LLC raised its position in shares of Chesapeake Utilities Corp. by 10.8% in the first quarter. Geode Capital Management LLC now owns 105,559 shares of the company’s stock valued at $6,647,000 after buying an additional 10,272 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Chesapeake Utilities Corp. by 227.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 139,064 shares of the company’s stock valued at $8,757,000 after buying an additional 96,649 shares in the last quarter. Institutional investors and hedge funds own 56.75% of the company’s stock.

Shares of Chesapeake Utilities Corp. (NYSE:CPK) traded up 2.52% on Wednesday, hitting $63.75. The company’s stock had a trading volume of 50,787 shares. Chesapeake Utilities Corp. has a 52 week low of $48.95 and a 52 week high of $67.88. The company has a market cap of $976.84 million, a price-to-earnings ratio of 23.17 and a beta of 0.24. The stock’s 50 day moving average is $63.91 and its 200-day moving average is $61.97.

Chesapeake Utilities Corp. (NYSE:CPK) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $102.30 million for the quarter, compared to analysts’ expectations of $98.90 million. Chesapeake Utilities Corp. had a net margin of 9.47% and a return on equity of 12.19%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts anticipate that Chesapeake Utilities Corp. will post $2.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, September 13th. Chesapeake Utilities Corp.’s dividend payout ratio (DPR) is currently 44.53%.

CPK has been the subject of several recent research reports. Janney Montgomery Scott raised Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $59.00 to $71.00 in a research report on Monday, August 8th. Zacks Investment Research raised Chesapeake Utilities Corp. from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, July 19th. Hilliard Lyons raised Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Friday, June 24th. Finally, BB&T Corp. initiated coverage on Chesapeake Utilities Corp. in a research report on Wednesday, June 22nd. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $72.00.

In related news, insider John R. Schimkaitis sold 500 shares of Chesapeake Utilities Corp. stock in a transaction on Monday, June 27th. The shares were sold at an average price of $63.03, for a total value of $31,515.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.36% of the stock is currently owned by corporate insiders.

About Chesapeake Utilities Corp.

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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