Yorktown Management & Research Co Inc boosted its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,670 shares of the utilities provider’s stock after purchasing an additional 558 shares during the period. Yorktown Management & Research Co Inc owned approximately 0.05% of Chesapeake Utilities worth $824,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CPK. State of New Jersey Common Pension Fund D acquired a new stake in Chesapeake Utilities during the second quarter valued at approximately $2,471,000. First Trust Advisors LP lifted its position in Chesapeake Utilities by 269.7% in the 2nd quarter. First Trust Advisors LP now owns 35,027 shares of the utilities provider’s stock worth $3,328,000 after buying an additional 25,552 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in Chesapeake Utilities in the 2nd quarter worth approximately $1,889,000. Copeland Capital Management LLC purchased a new stake in Chesapeake Utilities in the 1st quarter worth approximately $1,562,000. Finally, GYL Financial Synergies LLC purchased a new stake in Chesapeake Utilities in the 1st quarter worth approximately $1,313,000. 65.32% of the stock is owned by institutional investors and hedge funds.
In other news, insider John R. Schimkaitis sold 2,500 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.20, for a total transaction of $235,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.18% of the company’s stock.
CPK stock traded up $2.00 during midday trading on Friday, reaching $95.21. The company had a trading volume of 61,100 shares, compared to its average volume of 69,646. Chesapeake Utilities Co. has a 1 year low of $77.20 and a 1 year high of $96.27. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.53 billion, a P/E ratio of 25.75, a PEG ratio of 3.57 and a beta of 0.24. The company has a 50 day moving average of $92.95 and a two-hundred day moving average of $92.19.
Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Chesapeake Utilities had a return on equity of 11.30% and a net margin of 8.62%. The company had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $169.40 million. On average, sell-side analysts anticipate that Chesapeake Utilities Co. will post 3.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.405 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.62 annualized dividend and a dividend yield of 1.70%. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.94%.
About Chesapeake Utilities
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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