Clear Harbor Asset Management LLC raised its position in Chesapeake Utilities Co. (NYSE:CPK) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,014 shares of the utilities provider’s stock after buying an additional 3,744 shares during the quarter. Chesapeake Utilities accounts for 1.3% of Clear Harbor Asset Management LLC’s holdings, making the stock its 12th biggest holding. Clear Harbor Asset Management LLC’s holdings in Chesapeake Utilities were worth $6,483,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cox Capital Mgt LLC grew its holdings in 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 buying an additional 182 shares in the last quarter. Strs Ohio grew its holdings in 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 buying an additional 600 shares in the last quarter. Albert D Mason Inc. grew its holdings in Chesapeake Utilities by 1.5% in the 3rd quarter. Albert D Mason Inc. now owns 12,887 shares of the utilities provider’s stock valued at $1,228,000 after buying an additional 187 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in 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 buying an additional 287 shares in the last quarter. Finally, Krane Funds Advisors LLC acquired a new position in Chesapeake Utilities in the 2nd quarter valued at $59,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.
CPK has been the topic of a number of research reports. Maxim Group set a $110.00 price objective on Chesapeake Utilities and gave the company a “buy” rating in a report on Friday, October 11th. Sidoti initiated coverage on Chesapeake Utilities in a report on Thursday, October 24th. They issued a “buy” rating and a $108.00 price objective on the stock. ValuEngine lowered Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $100.65.
CPK opened at $94.51 on Friday. The firm has a market cap of $1.56 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 3.64 and a beta of 0.15. Chesapeake Utilities Co. has a 52-week low of $77.20 and a 52-week high of $97.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.22 and a current ratio of 0.24. The business’s fifty day moving average is $94.07 and its 200-day moving average is $93.38.
Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). The company had revenue of $130.90 million for the quarter, compared to analyst estimates of $169.40 million. Chesapeake Utilities had a return on equity of 11.30% and a net margin of 8.62%. On average, research analysts predict that Chesapeake Utilities Co. will post 3.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Friday, September 13th were 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 was Thursday, September 12th. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.94%.
Chesapeake Utilities Company Profile
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.
Further Reading: What are some reasons analysts would give stocks a buy rating?
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.