Fruth Investment Management cut its position in Chesapeake Utilities Co. (NYSE:CPK) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,977 shares of the utilities provider’s stock after selling 437 shares during the quarter. Fruth Investment Management owned 0.13% of Chesapeake Utilities worth $2,378,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Chesapeake Utilities by 103.8% in the third quarter. BlackRock Inc. now owns 2,408,988 shares of the utilities provider’s stock valued at $203,077,000 after buying an additional 1,226,898 shares during the period. First Trust Advisors LP lifted its stake in Chesapeake Utilities by 38.3% during the third quarter. First Trust Advisors LP now owns 730,387 shares of the utilities provider’s stock worth $61,572,000 after purchasing an additional 202,354 shares during the last quarter. State Street Corp lifted its stake in shares of Chesapeake Utilities by 43.7% in the 3rd quarter. State Street Corp now owns 520,987 shares of the utilities provider’s stock valued at $44,076,000 after acquiring an additional 158,418 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Chesapeake Utilities by 4.8% in the 3rd quarter. Boston Trust Walden Corp now owns 245,395 shares of the utilities provider’s stock valued at $20,686,000 after acquiring an additional 11,335 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its stake in shares of Chesapeake Utilities by 21.6% in the 3rd quarter. Copeland Capital Management LLC now owns 202,101 shares of the utilities provider’s stock valued at $17,037,000 after acquiring an additional 35,957 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Wednesday, December 23rd. Maxim Group boosted their price target on Chesapeake Utilities from $117.00 to $121.00 and gave the company a “buy” rating in a report on Friday, November 20th. Wells Fargo & Company downgraded Chesapeake Utilities from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $93.00 to $96.00 in a report on Wednesday, January 6th. Finally, Zacks Investment Research downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Monday, January 4th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Chesapeake Utilities presently has an average rating of “Hold” and an average target price of $106.20.
Shares of NYSE:CPK traded up $1.92 on Wednesday, reaching $104.03. The company’s stock had a trading volume of 2,082 shares, compared to its average volume of 92,391. The stock’s 50-day moving average is $105.72 and its two-hundred day moving average is $91.94. Chesapeake Utilities Co. has a 52-week low of $69.47 and a 52-week high of $111.40. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.33 and a quick ratio of 0.30. The stock has a market capitalization of $1.82 billion, a P/E ratio of 23.47 and a beta of 0.25.
Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Wednesday, November 4th. The utilities provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.14. Chesapeake Utilities had a net margin of 14.84% and a return on equity of 11.14%. The business had revenue of $101.42 million during the quarter, compared to analysts’ expectations of $136.80 million. Equities analysts forecast that Chesapeake Utilities Co. will post 4.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 5th. Stockholders of record on Tuesday, December 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, December 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.69%. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.09%.
About Chesapeake Utilities
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The Regulated Energy segment engages in the distribution of natural gas in central and southern Delaware, Maryland's eastern shore, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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