Vanguard Group Inc. Buys 56,078 Shares of Chesapeake Utilities Corporation (CPK)
Vanguard Group Inc. increased its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 838,531 shares of the utilities provider’s stock after buying an additional 56,078 shares during the period. Vanguard Group Inc. owned about 5.13% of Chesapeake Utilities Corporation worth $58,026,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPK. Victory Capital Management Inc. raised its position in Chesapeake Utilities Corporation by 36.7% in the first quarter. Victory Capital Management Inc. now owns 2,265 shares of the utilities provider’s stock worth $157,000 after buying an additional 608 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Chesapeake Utilities Corporation by 255.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,744 shares of the utilities provider’s stock worth $190,000 after buying an additional 1,973 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Chesapeake Utilities Corporation by 1.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,812 shares of the utilities provider’s stock worth $194,000 after buying an additional 46 shares during the last quarter. Advisory Services Network LLC bought a new position in Chesapeake Utilities Corporation during the first quarter worth about $204,000. Finally, Eqis Capital Management Inc. bought a new position in Chesapeake Utilities Corporation during the first quarter worth about $208,000. 59.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chesapeake Utilities Corporation (NYSE:CPK) traded down 0.25% on Tuesday, reaching $78.60. The company had a trading volume of 627 shares. The stock has a 50 day moving average price of $75.84 and a 200-day moving average price of $71.20. Chesapeake Utilities Corporation has a 12 month low of $57.63 and a 12 month high of $78.65. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 28.74 and a beta of 0.27.
Chesapeake Utilities Corporation (NYSE:CPK) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.18. The company had revenue of $125.08 million during the quarter, compared to the consensus estimate of $116.50 million. Chesapeake Utilities Corporation had a return on equity of 9.18% and a net margin of 7.40%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Analysts forecast that Chesapeake Utilities Corporation will post $2.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, September 14th. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is 50.78%.
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A number of research analysts have recently issued reports on CPK shares. Zacks Investment Research raised Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Tuesday, May 2nd. BidaskClub raised Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada started coverage on Chesapeake Utilities Corporation in a report on Wednesday, April 26th. They issued a “sector perform” rating and a $75.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Chesapeake Utilities Corporation currently has a consensus rating of “Hold” and an average target price of $72.00.
In other Chesapeake Utilities Corporation news, CEO P. Mcmasters Michael sold 5,500 shares of Chesapeake Utilities Corporation stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $74.56, for a total transaction of $410,080.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.36% of the company’s stock.
About Chesapeake Utilities Corporation
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.
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