Millennium Management LLC bought a new position in shares of Chesapeake Utilities (NYSE:CPK) during the 4th quarter, HoldingsChannel.com reports. The fund bought 59,826 shares of the utilities provider’s stock, valued at approximately $4,699,000.
Several other institutional investors and hedge funds have also made changes to their positions in CPK. American International Group Inc. increased its holdings in shares of Chesapeake Utilities by 8.1% during the third quarter. American International Group Inc. now owns 10,605 shares of the utilities provider’s stock worth $830,000 after purchasing an additional 793 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Chesapeake Utilities during the third quarter worth approximately $229,000. Wells Fargo & Company MN increased its holdings in shares of Chesapeake Utilities by 17.6% during the third quarter. Wells Fargo & Company MN now owns 49,803 shares of the utilities provider’s stock worth $3,897,000 after purchasing an additional 7,457 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Chesapeake Utilities by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 531,966 shares of the utilities provider’s stock worth $41,627,000 after purchasing an additional 6,981 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Chesapeake Utilities by 11.5% during the third quarter. California Public Employees Retirement System now owns 42,661 shares of the utilities provider’s stock worth $3,338,000 after purchasing an additional 4,411 shares during the period. 62.26% of the stock is currently owned by institutional investors.
In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $71.00, for a total value of $177,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen C. Thompson sold 2,263 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $72.17, for a total transaction of $163,320.71. Following the completion of the sale, the insider now owns 73,605 shares in the company, valued at approximately $5,312,072.85. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
Shares of NYSE:CPK opened at $75.80 on Wednesday. The company has a market capitalization of $1,214.39, a P/E ratio of 26.23, a PEG ratio of 3.60 and a beta of 0.22. The company has a current ratio of 0.43, a quick ratio of 0.38 and a debt-to-equity ratio of 0.41. Chesapeake Utilities has a 1 year low of $66.35 and a 1 year high of $86.35.
Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $180.40 million for the quarter, compared to analysts’ expectations of $147.85 million. Chesapeake Utilities had a net margin of 9.41% and a return on equity of 10.10%. equities analysts predict that Chesapeake Utilities will post 3.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 5th. Investors of record on Thursday, March 15th were paid a $0.325 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.30 dividend on an annualized basis and a yield of 1.72%. Chesapeake Utilities’s dividend payout ratio (DPR) is 44.98%.
Several brokerages have recently commented on CPK. Zacks Investment Research raised shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Monday, April 2nd. Seaport Global Securities reissued a “neutral” rating on shares of Chesapeake Utilities in a research note on Monday, March 5th. Finally, Sidoti raised shares of Chesapeake Utilities from a “neutral” rating to a “buy” rating in a research note on Monday, March 19th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $79.67.
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Chesapeake Utilities 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.
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