River & Mercantile Asset Management LLP bought a new stake in shares of Chesapeake Utilities Co. (NYSE:CPK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 910 shares of the utilities provider’s stock, valued at approximately $86,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of CPK. Nuveen Asset Management LLC increased its position in Chesapeake Utilities by 3,829.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 112,646 shares of the utilities provider’s stock valued at $10,704,000 after purchasing an additional 109,779 shares during the period. Vanguard Group Inc. increased its position in Chesapeake Utilities by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,038,030 shares of the utilities provider’s stock valued at $98,633,000 after purchasing an additional 52,523 shares during the period. Price T Rowe Associates Inc. MD increased its position in Chesapeake Utilities by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,281,339 shares of the utilities provider’s stock valued at $216,773,000 after purchasing an additional 43,274 shares during the period. BlackRock Inc. increased its position in Chesapeake Utilities by 2.4% during the 2nd quarter. BlackRock Inc. now owns 1,353,148 shares of the utilities provider’s stock valued at $128,576,000 after purchasing an additional 31,273 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Chesapeake Utilities in the 2nd quarter valued at about $2,471,000. 65.55% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Maxim Group restated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of Chesapeake Utilities in a report on Friday, August 9th. ValuEngine cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Chesapeake Utilities currently has a consensus rating of “Hold” and a consensus price target of $98.81.
Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Chesapeake Utilities had a net margin of 8.62% and a return on equity of 11.30%. The firm had revenue of $130.90 million during the quarter, compared to the consensus estimate of $169.40 million. On average, research analysts forecast that Chesapeake Utilities Co. will post 3.72 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Friday, September 13th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, September 12th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.94%.
In related news, insider John R. Schimkaitis sold 2,500 shares of Chesapeake Utilities stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $94.41, for a total value of $236,025.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,858 shares of company stock valued at $269,817 over the last quarter. 4.18% of the stock is owned by company insiders.
Chesapeake Utilities Company 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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