Chesapeake Utilities Co. (NYSE:CPK) Stake Lowered by Bokf Na

Bokf Na cut its stake in Chesapeake Utilities Co. (NYSE:CPK) by 24.6% during the fourth quarter, HoldingsChannel reports. The fund owned 2,650 shares of the utilities provider’s stock after selling 866 shares during the quarter. Bokf Na’s holdings in Chesapeake Utilities were worth $309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CPK. Federated Hermes Inc. raised its stake in shares of Chesapeake Utilities by 587.1% during the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Chesapeake Utilities in the fourth quarter valued at approximately $50,000. Sterling Capital Management LLC grew its position in Chesapeake Utilities by 805.2% in the fourth quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 620 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Chesapeake Utilities by 159.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 539 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Chesapeake Utilities by 46.2% in the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 331 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPK. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a report on Tuesday, April 22nd. Barclays reduced their target price on Chesapeake Utilities from $125.00 to $124.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Finally, StockNews.com downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Tuesday, April 22nd.

Chesapeake Utilities Price Performance

NYSE CPK opened at $126.73 on Friday. The stock has a 50-day simple moving average of $129.54 and a 200 day simple moving average of $125.94. Chesapeake Utilities Co. has a twelve month low of $102.64 and a twelve month high of $136.73. The stock has a market capitalization of $2.92 billion, a PE ratio of 25.71 and a beta of 0.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The business had revenue of $298.70 million during the quarter, compared to the consensus estimate of $248.45 million. During the same period in the prior year, the company posted $2.10 earnings per share. The firm’s revenue was up 21.6% compared to the same quarter last year. Research analysts anticipate that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.685 per share. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, June 16th. This represents a $2.74 annualized dividend and a dividend yield of 2.16%. Chesapeake Utilities’s payout ratio is presently 47.32%.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.