Ameriprise Financial Inc. reduced its position in Chesapeake Utilities Corp. (NYSE:CPK) by 22.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,992 shares of the company’s stock after selling 33,466 shares during the period. Ameriprise Financial Inc. owned about 0.74% of Chesapeake Utilities Corp. worth $7,542,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Albert D Mason Inc. raised its position in Chesapeake Utilities Corp. by 0.5% in the second quarter. Albert D Mason Inc. now owns 18,887 shares of the company’s stock worth $1,250,000 after buying an additional 90 shares in the last quarter. IFP Advisors Inc increased its stake in Chesapeake Utilities Corp. by 3.9% in the first quarter. IFP Advisors Inc now owns 3,035 shares of the company’s stock worth $191,000 after buying an additional 114 shares during the last quarter. Legal & General Group Plc increased its stake in Chesapeake Utilities Corp. by 10.5% in the first quarter. Legal & General Group Plc now owns 2,355 shares of the company’s stock worth $146,000 after buying an additional 223 shares during the last quarter. M&T Bank Corp increased its stake in Chesapeake Utilities Corp. by 1.6% in the second quarter. M&T Bank Corp now owns 14,562 shares of the company’s stock worth $964,000 after buying an additional 232 shares during the last quarter. Finally, Monarch Partners Asset Management LLC increased its stake in Chesapeake Utilities Corp. by 1.1% in the second quarter. Monarch Partners Asset Management LLC now owns 22,034 shares of the company’s stock worth $1,458,000 after buying an additional 250 shares during the last quarter. 56.72% of the stock is currently owned by institutional investors.
Chesapeake Utilities Corp. (NYSE:CPK) traded up 0.22% during trading on Friday, reaching $58.31. The company’s stock had a trading volume of 23,781 shares. The company has a market cap of $893.48 million, a price-to-earnings ratio of 21.20 and a beta of 0.24. The stock’s 50 day moving average is $62.66 and its 200 day moving average is $62.01. Chesapeake Utilities Corp. has a 12 month low of $49.50 and a 12 month high of $67.88.
Chesapeake Utilities Corp. (NYSE:CPK) last issued its earnings results on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Chesapeake Utilities Corp. had a net margin of 9.47% and a return on equity of 12.19%. The company had revenue of $102.30 million for the quarter, compared to analysts’ expectations of $98.90 million. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Chesapeake Utilities Corp. will post $2.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Thursday, September 15th were issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Tuesday, September 13th. Chesapeake Utilities Corp.’s dividend payout ratio is currently 44.53%.
CPK has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Chesapeake Utilities Corp. from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Friday, September 30th. Janney Montgomery Scott upgraded Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $59.00 to $71.00 in a report on Monday, August 8th. Hilliard Lyons upgraded Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a report on Friday, June 24th. Finally, BB&T Corp. started coverage on Chesapeake Utilities Corp. in a report on Wednesday, June 22nd. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $70.33.
In related news, insider John R. Schimkaitis sold 500 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $62.62, for a total value of $31,310.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.36% of the stock is currently owned by corporate insiders.
Chesapeake Utilities Corp. Company Profile
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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