Chesapeake Utilities (NYSE:CPK) insider Stephen C. Thompson sold 2,187 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $76.69, for a total transaction of $167,721.03. Following the completion of the sale, the insider now directly owns 73,605 shares of the company’s stock, valued at approximately $5,644,767.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Chesapeake Utilities opened at $76.70 on Friday, Marketbeat Ratings reports. Chesapeake Utilities has a 52-week low of $66.35 and a 52-week high of $86.35. The firm has a market capitalization of $1.26 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 3.68 and a beta of 0.20. The company has a quick ratio of 0.34, a current ratio of 0.37 and a debt-to-equity ratio of 0.44.
Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, May 9th. The utilities provider reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.04. Chesapeake Utilities had a net margin of 9.80% and a return on equity of 10.64%. research analysts anticipate that Chesapeake Utilities will post 3.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Friday, June 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, June 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 44.98%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Tuesday, May 15th. Sidoti raised shares of Chesapeake Utilities from a “neutral” rating to a “buy” rating in a research report on Monday, March 19th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Chesapeake Utilities in a research report on Monday, March 5th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in Chesapeake Utilities by 131.4% during the 1st quarter. Millennium Management LLC now owns 138,449 shares of the utilities provider’s stock valued at $9,740,000 after purchasing an additional 78,623 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Chesapeake Utilities during the 1st quarter valued at $399,000. LPL Financial LLC acquired a new stake in Chesapeake Utilities during the 1st quarter valued at $217,000. Barclays PLC grew its holdings in Chesapeake Utilities by 121.4% during the 1st quarter. Barclays PLC now owns 11,079 shares of the utilities provider’s stock valued at $779,000 after purchasing an additional 6,074 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new stake in Chesapeake Utilities during the 1st quarter valued at $471,000. 62.33% of the stock is owned by institutional investors and hedge funds.
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.
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