State Board of Administration of Florida Retirement System raised its position in Chesapeake Utilities Corp. (NYSE:CPK) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 11,569 shares of the company’s stock after buying an additional 489 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Chesapeake Utilities Corp. worth $766,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised 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 valued at $146,000 after buying an additional 223 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in 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 worth $8,757,000 after buying an additional 96,649 shares during the period. Renaissance Technologies LLC raised its stake in Chesapeake Utilities Corp. by 1.5% in the first quarter. Renaissance Technologies LLC now owns 262,450 shares of the company’s stock worth $16,526,000 after buying an additional 3,950 shares during the period. Zebra Capital Management LLC raised its stake in Chesapeake Utilities Corp. by 30.5% in the first quarter. Zebra Capital Management LLC now owns 14,939 shares of the company’s stock worth $941,000 after buying an additional 3,489 shares during the period. Finally, Huntington Asset Advisors Inc. bought a new stake in Chesapeake Utilities Corp. during the first quarter worth about $472,000. 56.75% of the stock is owned by institutional investors.
Shares of Chesapeake Utilities Corp. (NYSE:CPK) traded down 2.70% on Thursday, reaching $60.83. The company had a trading volume of 58,291 shares. Chesapeake Utilities Corp. has a 1-year low of $49.50 and a 1-year high of $67.88. The firm has a market capitalization of $932.10 million, a price-to-earnings ratio of 22.11 and a beta of 0.24. The firm has a 50-day moving average price of $63.63 and a 200 day moving average price of $62.05.
Chesapeake Utilities Corp. (NYSE:CPK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ 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 earned $102.30 million during the quarter, compared to the consensus estimate of $98.90 million. Chesapeake Utilities Corp.’s revenue was up 10.4% on a year-over-year basis. Equities research analysts predict that Chesapeake Utilities Corp. will post $2.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.95%. Chesapeake Utilities Corp.’s payout ratio is 44.53%.
A number of research firms have recently issued reports on CPK. Zacks Investment Research lowered Chesapeake Utilities Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Janney Montgomery Scott upgraded Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and upped their price target for the company from $59.00 to $71.00 in a research report on Monday, August 8th. BB&T Corp. began coverage on Chesapeake Utilities Corp. in a research report on Wednesday, June 22nd. They issued a “hold” rating for the company. Finally, 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 research report on Friday, June 24th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $72.00.
In other news, insider John R. Schimkaitis sold 500 shares of Chesapeake Utilities Corp. stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $62.62, for a total transaction of $31,310.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.36% of the company’s stock.
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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