Two Sigma Advisers LP boosted its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 43.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,269 shares of the utilities provider’s stock after buying an additional 5,800 shares during the quarter. Two Sigma Advisers LP owned approximately 0.12% of Chesapeake Utilities worth $1,652,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sunbelt Securities Inc. bought a new stake in Chesapeake Utilities during the 4th quarter worth approximately $2,549,000. Amalgamated Bank lifted its holdings in shares of Chesapeake Utilities by 5.1% during the fourth quarter. Amalgamated Bank now owns 2,973 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 143 shares during the period. Raymond James & Associates grew its stake in shares of Chesapeake Utilities by 6.2% in the first quarter. Raymond James & Associates now owns 2,468 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 145 shares during the last quarter. FMR LLC increased its holdings in Chesapeake Utilities by 13.3% in the fourth quarter. FMR LLC now owns 1,268 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 149 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Chesapeake Utilities by 0.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 23,382 shares of the utilities provider’s stock worth $2,003,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 68.23% of the company’s stock.
CPK has been the subject of several recent research reports. Wells Fargo & Co decreased their price target on Chesapeake Utilities from $93.00 to $87.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. TheStreet upgraded shares of Chesapeake Utilities from a “c+” rating to a “b-” rating in a report on Friday, May 15th. Maxim Group restated a “buy” rating and issued a $115.00 price target on shares of Chesapeake Utilities in a research report on Friday, May 8th. Zacks Investment Research cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $93.00 target price on shares of Chesapeake Utilities in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Chesapeake Utilities currently has a consensus rating of “Hold” and an average price target of $100.71.
Chesapeake Utilities (NYSE:CPK) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.03. Chesapeake Utilities had a return on equity of 10.77% and a net margin of 12.87%. The company had revenue of $152.71 million for the quarter, compared to analysts’ expectations of $181.90 million. On average, research analysts forecast that Chesapeake Utilities Co. will post 4.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.44 per share. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, June 12th. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.09%.
In other news, insider John R. Schimkaitis sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $91.00, for a total transaction of $227,500.00. Insiders own 3.14% of the company’s stock.
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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