Strs Ohio raised its stake in Chesapeake Utilities Co. (NYSE:CPK) by 37.3% in the third quarter, HoldingsChannel reports. The firm owned 9,200 shares of the utilities provider’s stock after acquiring an additional 2,500 shares during the quarter. Strs Ohio’s holdings in Chesapeake Utilities were worth $771,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in Chesapeake Utilities by 2,424.6% in the second 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 in the last quarter. United Services Automobile Association acquired a new stake in shares of Chesapeake Utilities in the second quarter valued at approximately $209,000. Creative Planning acquired a new stake in shares of Chesapeake Utilities in the second quarter valued at approximately $227,000. LPL Financial LLC acquired a new stake in shares of Chesapeake Utilities in the first quarter valued at approximately $217,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Chesapeake Utilities in the second quarter valued at approximately $324,000. Hedge funds and other institutional investors own 63.74% of the company’s stock.
A number of analysts have recently issued reports on the company. Janney Montgomery Scott raised Chesapeake Utilities from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Friday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Wells Fargo & Co raised their price objective on Chesapeake Utilities from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Monday, September 24th. Finally, ValuEngine raised Chesapeake Utilities from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $88.33.
Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). The business had revenue of $136.66 million during the quarter, compared to analyst estimates of $140.85 million. Chesapeake Utilities had a net margin of 9.68% and a return on equity of 10.75%. As a group, equities research analysts anticipate that Chesapeake Utilities Co. will post 3.42 earnings per share for the current fiscal year.
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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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