Eqis Capital Management Inc. raised its position in Chesapeake Utilities Co. (NYSE:CPK) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,356 shares of the utilities provider’s stock after buying an additional 112 shares during the period. Eqis Capital Management Inc.’s holdings in Chesapeake Utilities were worth $451,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of Chesapeake Utilities by 19,449.5% in the second quarter. First Trust Advisors LP now owns 528,033 shares of the utilities provider’s stock worth $44,355,000 after acquiring an additional 525,332 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Chesapeake Utilities by 8.5% during the second quarter. Boston Trust Walden Corp now owns 234,060 shares of the utilities provider’s stock worth $19,661,000 after buying an additional 18,320 shares during the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Chesapeake Utilities by 17.1% during the second quarter. Moody Aldrich Partners LLC now owns 78,331 shares of the utilities provider’s stock worth $6,580,000 after buying an additional 11,411 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Chesapeake Utilities by 21.1% during the second quarter. Copeland Capital Management LLC now owns 166,144 shares of the utilities provider’s stock worth $13,956,000 after buying an additional 29,001 shares during the last quarter. Finally, Comerica Bank bought a new stake in shares of Chesapeake Utilities during the second quarter worth approximately $4,346,000. Hedge funds and other institutional investors own 71.26% of the company’s stock.
Chesapeake Utilities stock opened at $105.06 on Friday. The stock has a market capitalization of $1.83 billion, a PE ratio of 24.15 and a beta of 0.20. Chesapeake Utilities Co. has a twelve month low of $69.47 and a twelve month high of $111.31. The company has a quick ratio of 0.30, a current ratio of 0.33 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $95.36 and a 200-day moving average of $86.89.
Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Wednesday, November 4th. The utilities provider reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.14. Chesapeake Utilities had a net margin of 14.84% and a return on equity of 11.14%. Equities analysts anticipate that Chesapeake Utilities Co. will post 4.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Monday, December 14th. Chesapeake Utilities’s payout ratio is 48.09%.
In related news, insider John R. Schimkaitis sold 2,500 shares of the stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $91.00, for a total transaction of $227,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.14% of the company’s stock.
CPK has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Tuesday, November 10th. Maxim Group boosted their price objective on shares of Chesapeake Utilities from $117.00 to $121.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company restated a “hold” rating on shares of Chesapeake Utilities in a report on Friday, August 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $103.00.
Chesapeake Utilities Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The Regulated Energy segment engages in the distribution of natural gas in central and southern Delaware, Maryland's eastern shore, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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