Bank of New York Mellon Corp cut its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 451,054 shares of the utilities provider’s stock after selling 33,504 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chesapeake Utilities were worth $35,429,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CPK. State Street Corp increased its holdings in shares of Chesapeake Utilities by 2.6% during the second quarter. State Street Corp now owns 320,874 shares of the utilities provider’s stock worth $24,043,000 after purchasing an additional 8,078 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Chesapeake Utilities by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 12,280 shares of the utilities provider’s stock worth $921,000 after purchasing an additional 127 shares during the period. Aperio Group LLC boosted its position in shares of Chesapeake Utilities by 10.1% during the 3rd quarter. Aperio Group LLC now owns 12,258 shares of the utilities provider’s stock worth $959,000 after acquiring an additional 1,123 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Chesapeake Utilities by 28.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,922 shares of the utilities provider’s stock worth $1,324,000 after acquiring an additional 3,712 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Chesapeake Utilities by 40.8% during the 3rd quarter. Victory Capital Management Inc. now owns 3,750 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 1,087 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors.
In related news, Director Thomas P. Hill, Jr. bought 1,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were purchased at an average price of $75.62 per share, for a total transaction of $75,620.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $76.65, for a total transaction of $191,625.00. The disclosure for this sale can be found here. Company insiders own 4.16% of the company’s stock.
Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The business had revenue of $180.40 million for the quarter, compared to analyst estimates of $147.85 million. Chesapeake Utilities had a net margin of 9.41% and a return on equity of 10.10%. analysts forecast that Chesapeake Utilities Co. will post 3.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be given a dividend of $0.325 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.30 annualized dividend and a dividend yield of 1.85%. Chesapeake Utilities’s dividend payout ratio is 36.62%.
Several analysts recently issued reports on CPK shares. Zacks Investment Research upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Tuesday, November 14th. Seaport Global Securities reiterated a “neutral” rating on shares of Chesapeake Utilities in a research report on Monday, March 5th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.33.
Chesapeake Utilities 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.
Want to see what other hedge funds are holding CPK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chesapeake Utilities Co. (NYSE:CPK).
Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.