Teacher Retirement System of Texas lowered its position in Chesapeake Utilities Co. (NYSE:CPK) by 35.5% in the 1st quarter, HoldingsChannel reports. The fund owned 3,437 shares of the utilities provider’s stock after selling 1,891 shares during the quarter. Teacher Retirement System of Texas’ holdings in Chesapeake Utilities were worth $242,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in CPK. Northeast Financial Consultants Inc bought a new position in shares of Chesapeake Utilities in the 4th quarter worth approximately $282,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Chesapeake Utilities in the 4th quarter worth approximately $352,000. Virginia Retirement Systems ET AL bought a new position in shares of Chesapeake Utilities in the 1st quarter worth approximately $415,000. MetLife Investment Advisors LLC bought a new position in shares of Chesapeake Utilities in the 4th quarter worth approximately $548,000. Finally, Yorktown Management & Research Co Inc raised its position in shares of Chesapeake Utilities by 12.0% in the 4th quarter. Yorktown Management & Research Co Inc now owns 7,000 shares of the utilities provider’s stock worth $550,000 after acquiring an additional 750 shares in the last quarter. 63.88% of the stock is owned by hedge funds and other institutional investors.
Chesapeake Utilities opened at $79.30 on Friday, MarketBeat reports. The company has a current ratio of 0.37, a quick ratio of 0.34 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.28 billion, a P/E ratio of 25.08, a P/E/G ratio of 3.74 and a beta of 0.21. Chesapeake Utilities Co. has a twelve month low of $66.35 and a twelve month high of $86.35.
Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, May 9th. The utilities provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.04. Chesapeake Utilities had a return on equity of 10.64% and a net margin of 9.80%. analysts expect that Chesapeake Utilities Co. will post 3.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Friday, June 15th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.33. Chesapeake Utilities’s dividend payout ratio is presently 51.21%.
In related news, insider Stephen C. Thompson sold 988 shares of the company’s stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $77.99, for a total value of $77,054.12. Following the sale, the insider now owns 73,605 shares in the company, valued at approximately $5,740,453.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen C. Thompson sold 2,156 shares of the stock in a transaction on Friday, May 11th. The shares were sold at an average price of $76.40, for a total value of $164,718.40. Following the sale, the insider now owns 73,605 shares in the company, valued at $5,623,422. The disclosure for this sale can be found here. Insiders sold a total of 23,676 shares of company stock worth $1,802,443 in the last 90 days. 4.20% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on CPK shares. Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Wednesday, May 23rd. Seaport Global Securities restated a “neutral” rating on shares of Chesapeake Utilities in a research note on Monday, March 5th. Finally, Sidoti upgraded Chesapeake Utilities from a “neutral” rating to a “buy” rating in a research note on Monday, March 19th.
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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