Hennessy Advisors Inc. Has $7.62 Million Stake in Chesapeake Utilities Corporation (CPK)
Hennessy Advisors Inc. decreased its stake in Chesapeake Utilities Corporation (NYSE:CPK) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,658 shares of the utilities provider’s stock after selling 3,250 shares during the period. Hennessy Advisors Inc. owned 0.62% of Chesapeake Utilities Corporation worth $7,619,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Chesapeake Utilities Corporation by 36.7% in the 1st quarter. Victory Capital Management Inc. now owns 2,265 shares of the utilities provider’s stock valued at $157,000 after acquiring an additional 608 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Chesapeake Utilities Corporation by 255.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,744 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 1,973 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Chesapeake Utilities Corporation by 1.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,812 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 46 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Chesapeake Utilities Corporation in the 1st quarter valued at about $208,000. Finally, Sei Investments Co. grew its holdings in shares of Chesapeake Utilities Corporation by 26.4% in the 1st quarter. Sei Investments Co. now owns 3,247 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 679 shares in the last quarter. Institutional investors own 61.33% of the company’s stock.
Several equities analysts have recently weighed in on the company. BidaskClub upgraded Chesapeake Utilities Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Zacks Investment Research cut Chesapeake Utilities Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. Chesapeake Utilities Corporation presently has a consensus rating of “Hold” and an average target price of $72.25.
In other news, CEO P. Mcmasters Michael sold 5,500 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $74.56, for a total transaction of $410,080.00. 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.
Shares of Chesapeake Utilities Corporation (CPK) traded down 0.38% during trading on Friday, hitting $28.79. The stock had a trading volume of 17,277 shares. The company has a market capitalization of $470.54 million, a P/E ratio of 11.19 and a beta of 0.27. Chesapeake Utilities Corporation has a 1-year low of $28.79 and a 1-year high of $81.10. The firm has a 50-day moving average of $78.74 and a 200 day moving average of $73.77.
Chesapeake Utilities Corporation (NYSE:CPK) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.55 by $0.18. The business had revenue of $125.08 million for 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 was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. Equities research analysts predict that Chesapeake Utilities Corporation will post $2.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Thursday, September 14th. Chesapeake Utilities Corporation’s payout ratio is presently 50.78%.
Chesapeake Utilities Corporation Company Profile
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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