Chesapeake Utilities Corp. (NYSE:CPK) insider John R. Schimkaitis sold 500 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $62.62, for a total value of $31,310.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Chesapeake Utilities Corp. (NYSE:CPK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. The business earned $102.30 million during the quarter, compared to the consensus estimate of $98.90 million. Chesapeake Utilities Corp. had a net margin of 9.47% and a return on equity of 12.19%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, September 13th. Chesapeake Utilities Corp.’s dividend payout ratio (DPR) is 44.53%.
A number of equities research analysts recently issued reports on CPK shares. Janney Montgomery Scott upgraded Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $71.00 in a research note on Monday, August 8th. Zacks Investment Research cut Chesapeake Utilities Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Hilliard Lyons upgraded Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Friday, June 24th. Finally, BB&T Corp. started coverage on Chesapeake Utilities Corp. in a research report on Wednesday, June 22nd. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $70.33.
Several large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in Chesapeake Utilities Corp. by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 53,149 shares of the company’s stock worth $3,518,000 after buying an additional 978 shares during the period. Stifel Financial Corp increased its stake in Chesapeake Utilities Corp. by 5.4% in the second quarter. Stifel Financial Corp now owns 7,435 shares of the company’s stock worth $494,000 after buying an additional 384 shares during the period. Highbridge Capital Management LLC acquired a new stake in Chesapeake Utilities Corp. during the second quarter worth $237,000. Paloma Partners Management Co increased its stake in Chesapeake Utilities Corp. by 52.3% in the second quarter. Paloma Partners Management Co now owns 6,454 shares of the company’s stock worth $427,000 after buying an additional 2,215 shares during the period. Finally, A.R.T. Advisors LLC acquired a new stake in Chesapeake Utilities Corp. during the second quarter worth $530,000. 56.72% of the stock is owned by institutional investors and hedge funds.
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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