First Manhattan Co. trimmed its position in Chesapeake Utilities Co. (NYSE:CPK) by 25.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,907 shares of the utilities provider’s stock after selling 23,260 shares during the quarter. First Manhattan Co. owned about 0.41% of Chesapeake Utilities worth $5,697,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc boosted its holdings in Chesapeake Utilities by 2,424.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 1,382 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Chesapeake Utilities in the 1st quarter worth approximately $196,000. United Services Automobile Association acquired a new position in shares of Chesapeake Utilities in the 2nd quarter worth approximately $209,000. LPL Financial LLC acquired a new position in shares of Chesapeake Utilities in the 1st quarter worth approximately $217,000. Finally, Creative Planning acquired a new position in shares of Chesapeake Utilities in the 2nd quarter worth approximately $227,000. Institutional investors own 63.67% of the company’s stock.
Several brokerages have recently commented on CPK. Wells Fargo & Co upped their price objective on shares of Chesapeake Utilities from $82.00 to $86.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. Janney Montgomery Scott lowered shares of Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a report on Monday, September 24th. ValuEngine upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Finally, Zacks Investment Research lowered shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $88.33.
Shares of CPK stock opened at $81.30 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48. Chesapeake Utilities Co. has a one year low of $66.35 and a one year high of $90.90. The company has a market capitalization of $1.35 billion, a PE ratio of 25.50, a P/E/G ratio of 4.01 and a beta of -0.01.
Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%. The company had revenue of $136.66 million during the quarter, compared to analyst estimates of $140.85 million. Equities analysts expect that Chesapeake Utilities Co. will post 3.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 14th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.48 annualized dividend and a dividend yield of 1.82%. Chesapeake Utilities’s dividend payout ratio is currently 51.21%.
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.
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