Chesapeake Utilities Co. (NYSE:CPK) Shares Bought by Cox Capital Mgt LLC

Cox Capital Mgt LLC raised its stake in Chesapeake Utilities Co. (NYSE:CPKFree Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,986 shares of the utilities provider’s stock after acquiring an additional 129 shares during the period. Cox Capital Mgt LLC’s holdings in Chesapeake Utilities were worth $1,179,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CPK. SRS Capital Advisors Inc. boosted its position in shares of Chesapeake Utilities by 308.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 286 shares of the utilities provider’s stock worth $30,000 after buying an additional 216 shares during the period. GAMMA Investing LLC bought a new position in shares of Chesapeake Utilities in the fourth quarter worth $30,000. Fortis Group Advisors LLC raised its stake in shares of Chesapeake Utilities by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 146 shares in the last quarter. Principal Securities Inc. acquired a new stake in Chesapeake Utilities in the fourth quarter worth about $41,000. Finally, Spirit of America Management Corp NY grew its position in Chesapeake Utilities by 60.0% in the 4th quarter. Spirit of America Management Corp NY now owns 400 shares of the utilities provider’s stock valued at $42,000 after buying an additional 150 shares in the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Price Performance

Shares of NYSE CPK traded up $0.96 during mid-day trading on Friday, reaching $104.60. The company had a trading volume of 55,050 shares, compared to its average volume of 116,411. Chesapeake Utilities Co. has a 1-year low of $83.79 and a 1-year high of $126.23. The stock has a market cap of $2.33 billion, a PE ratio of 21.77 and a beta of 0.61. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $107.77 and a two-hundred day moving average price of $104.94.

Chesapeake Utilities (NYSE:CPKGet Free Report) last released its earnings results on Wednesday, May 8th. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.04). The business had revenue of $245.70 million during the quarter, compared to analysts’ expectations of $260.16 million. Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. Chesapeake Utilities’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.04 EPS. On average, equities analysts anticipate that Chesapeake Utilities Co. will post 5.41 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a $0.64 dividend. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, June 14th. This represents a $2.56 dividend on an annualized basis and a yield of 2.45%. Chesapeake Utilities’s dividend payout ratio is presently 53.78%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CPK. Wells Fargo & Company upped their price target on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Barclays started coverage on Chesapeake Utilities in a research note on Thursday, May 30th. They set an “equal weight” rating and a $111.00 price target for the company. Royal Bank of Canada boosted their price objective on Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Finally, StockNews.com cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $109.80.

Check Out Our Latest Stock Analysis on CPK

Chesapeake Utilities Company Profile

(Free Report)

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

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