Chesapeake Utilities Co. (NYSE:CPK) Stock Position Decreased by Energy Income Partners LLC

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Energy Income Partners LLC cut its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 21.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,557 shares of the utilities provider’s stock after selling 7,646 shares during the period. Energy Income Partners LLC owned 0.17% of Chesapeake Utilities worth $2,713,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cox Capital Mgt LLC raised its stake in shares of Chesapeake Utilities by 1.7% in the 2nd quarter. Cox Capital Mgt LLC now owns 11,136 shares of the utilities provider’s stock valued at $1,058,000 after acquiring an additional 182 shares in the last quarter. Strs Ohio raised its stake in shares of Chesapeake Utilities by 6.5% in the 2nd quarter. Strs Ohio now owns 9,800 shares of the utilities provider’s stock valued at $931,000 after acquiring an additional 600 shares in the last quarter. Affinity Wealth Management LLC bought a new position in shares of Chesapeake Utilities in the 1st quarter valued at approximately $264,000. GYL Financial Synergies LLC bought a new position in shares of Chesapeake Utilities in the 1st quarter valued at approximately $1,313,000. Finally, Eqis Capital Management Inc. raised its stake in shares of Chesapeake Utilities by 12.6% in the 2nd quarter. Eqis Capital Management Inc. now owns 2,569 shares of the utilities provider’s stock valued at $244,000 after acquiring an additional 287 shares in the last quarter. 65.54% of the stock is owned by institutional investors.

Shares of NYSE:CPK opened at $94.66 on Friday. Chesapeake Utilities Co. has a 1-year low of $77.20 and a 1-year high of $96.27. The firm has a market capitalization of $1.54 billion, a PE ratio of 28.60, a PEG ratio of 3.60 and a beta of 0.22. The business’s 50 day moving average is $93.58 and its 200-day moving average is $92.91. The company has a current ratio of 0.24, a quick ratio of 0.22 and a debt-to-equity ratio of 0.53.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.04). Chesapeake Utilities had a return on equity of 11.30% and a net margin of 8.62%. The firm had revenue of $130.90 million for the quarter, compared to analyst estimates of $169.40 million. On average, sell-side analysts predict that Chesapeake Utilities Co. will post 3.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, September 12th. Chesapeake Utilities’s payout ratio is presently 48.94%.

CPK has been the topic of a number of recent analyst reports. Wells Fargo & Co reissued a “hold” rating on shares of Chesapeake Utilities in a research note on Monday, June 10th. Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Tuesday, August 13th. Maxim Group reissued a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of Chesapeake Utilities in a research note on Friday, August 9th. Finally, ValuEngine raised Chesapeake Utilities from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $98.81.

In other news, insider John R. Schimkaitis sold 2,500 shares of Chesapeake Utilities stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.20, for a total transaction of $235,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 2,858 shares of company stock worth $269,292 in the last three months. 4.18% of the stock is owned by insiders.

About Chesapeake Utilities

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

See Also: Earnings Per Share (EPS)

Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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