Strs Ohio lifted its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 45.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,700 shares of the utilities provider’s stock after buying an additional 2,100 shares during the quarter. Strs Ohio’s holdings in Chesapeake Utilities were worth $535,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its stake in Chesapeake Utilities by 2,424.6% during the second quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 1,382 shares during the last quarter. Archford Capital Strategies LLC purchased a new stake in Chesapeake Utilities during the first quarter worth approximately $156,000. Mount Yale Investment Advisors LLC purchased a new stake in Chesapeake Utilities during the first quarter worth approximately $196,000. LPL Financial LLC purchased a new stake in Chesapeake Utilities during the first quarter worth approximately $217,000. Finally, Creative Planning purchased a new stake in Chesapeake Utilities during the second quarter worth approximately $227,000. 63.68% of the stock is owned by institutional investors and hedge funds.
CPK stock opened at $87.95 on Friday. The company has a market cap of $1.43 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 4.22 and a beta of -0.01. Chesapeake Utilities Co. has a fifty-two week low of $66.35 and a fifty-two week high of $88.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.30 and a quick ratio of 0.27.
Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Thursday, August 9th. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). The business had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $140.85 million. Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%. sell-side analysts anticipate that Chesapeake Utilities Co. will post 3.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Friday, September 14th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 13th. Chesapeake Utilities’s payout ratio is 51.21%.
In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen C. Thompson sold 1,772 shares of the business’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $77.21, for a total value of $136,816.12. Following the completion of the sale, the insider now owns 73,605 shares of the company’s stock, valued at approximately $5,683,042.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,811 shares of company stock valued at $1,153,932. 4.20% of the stock is owned by company insiders.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. ValuEngine cut Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd.
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.
Recommended Story: Google Finance Portfolio Workaround
Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.