State of Alaska Department of Revenue trimmed its position in Chesapeake Utilities Co. (NYSE:CPK – Free Report) by 3.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,706 shares of the utilities provider’s stock after selling 448 shares during the period. State of Alaska Department of Revenue owned 0.07% of Chesapeake Utilities worth $1,393,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Point72 Middle East FZE acquired a new position in Chesapeake Utilities in the fourth quarter worth about $48,000. Tower Research Capital LLC TRC grew its stake in Chesapeake Utilities by 9.5% in the first quarter. Tower Research Capital LLC TRC now owns 982 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 85 shares in the last quarter. Tradewinds Capital Management LLC grew its stake in Chesapeake Utilities by 11.4% in the second quarter. Tradewinds Capital Management LLC now owns 1,025 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 105 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Chesapeake Utilities in the second quarter worth about $142,000. Finally, Sound Income Strategies LLC acquired a new position in Chesapeake Utilities in the second quarter worth about $176,000. 74.80% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Guggenheim decreased their price target on Chesapeake Utilities from $112.00 to $99.00 in a research note on Monday, October 9th. TheStreet cut shares of Chesapeake Utilities from a “b-” rating to a “c+” rating in a report on Friday, October 6th. Royal Bank of Canada cut their target price on shares of Chesapeake Utilities from $124.00 to $117.00 and set a “sector perform” rating on the stock in a report on Monday, October 2nd. LADENBURG THALM/SH SH started coverage on shares of Chesapeake Utilities in a report on Thursday. They issued a “buy” rating and a $100.00 target price on the stock. Finally, StockNews.com started coverage on shares of Chesapeake Utilities in a report on Thursday, October 5th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.75.
Chesapeake Utilities Stock Performance
CPK opened at $91.80 on Friday. The business’s 50 day moving average is $106.19 and its 200-day moving average is $118.28. The stock has a market cap of $1.63 billion, a PE ratio of 18.55 and a beta of 0.59. The company has a current ratio of 0.54, a quick ratio of 0.44 and a debt-to-equity ratio of 0.75. Chesapeake Utilities Co. has a twelve month low of $89.00 and a twelve month high of $132.91.
Chesapeake Utilities (NYSE:CPK – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.08). Chesapeake Utilities had a net margin of 13.14% and a return on equity of 10.48%. The business had revenue of $135.59 million for the quarter, compared to the consensus estimate of $170.60 million. On average, analysts predict that Chesapeake Utilities Co. will post 5.16 earnings per share for the current year.
Chesapeake Utilities Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 15th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.36 annualized dividend and a yield of 2.57%. Chesapeake Utilities’s payout ratio is 47.68%.
Chesapeake Utilities Profile
Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.
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