Russell Investments Group Ltd. Trims Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Russell Investments Group Ltd. trimmed its stake in Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 13.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,218 shares of the utilities provider’s stock after selling 1,139 shares during the period. Russell Investments Group Ltd.’s holdings in Chesapeake Utilities were worth $1,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Chesapeake Utilities by 1,133.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,768 shares of the utilities provider’s stock worth $8,136,000 after buying an additional 62,276 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in Chesapeake Utilities by 255.2% in the 3rd quarter. Clark Capital Management Group Inc. now owns 75,328 shares of the utilities provider’s stock valued at $9,043,000 after buying an additional 54,123 shares during the period. Wealthspire Advisors LLC bought a new position in Chesapeake Utilities in the third quarter worth approximately $3,489,000. Morgan Stanley raised its holdings in shares of Chesapeake Utilities by 31.2% in the 2nd quarter. Morgan Stanley now owns 87,863 shares of the utilities provider’s stock valued at $10,571,000 after purchasing an additional 20,879 shares in the last quarter. Finally, Brasada Capital Management LP lifted its stake in shares of Chesapeake Utilities by 49.9% during the 3rd quarter. Brasada Capital Management LP now owns 38,911 shares of the utilities provider’s stock worth $4,671,000 after purchasing an additional 12,952 shares during the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider John R. Schimkaitis sold 2,500 shares of the stock in a transaction on Friday, April 1st. The stock was sold at an average price of $139.02, for a total transaction of $347,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas P. Hill, Jr. sold 988 shares of the firm’s stock in a transaction that occurred on Friday, January 14th. The stock was sold at an average price of $135.07, for a total transaction of $133,449.16. The disclosure for this sale can be found here. Insiders own 2.58% of the company’s stock.

CPK stock opened at $139.68 on Monday. Chesapeake Utilities Co. has a twelve month low of $113.49 and a twelve month high of $146.30. The stock has a market cap of $2.47 billion, a P/E ratio of 29.53 and a beta of 0.53. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $134.45 and its two-hundred day moving average is $133.59.

Chesapeake Utilities (NYSE:CPKGet Rating) last issued its earnings results on Wednesday, February 23rd. The utilities provider reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.01). Chesapeake Utilities had a net margin of 14.64% and a return on equity of 11.15%. The firm had revenue of $160.37 million during the quarter, compared to analysts’ expectations of $157.10 million. During the same period in the previous year, the firm earned $1.24 EPS. On average, equities research analysts predict that Chesapeake Utilities Co. will post 4.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 5th. Stockholders of record on Tuesday, March 15th were issued a $0.48 dividend. The ex-dividend date was Monday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Chesapeake Utilities’s dividend payout ratio (DPR) is 40.59%.

A number of brokerages have recently weighed in on CPK. Royal Bank of Canada boosted their price target on Chesapeake Utilities from $124.00 to $126.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 2nd. Zacks Investment Research cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. Finally, StockNews.com started coverage on Chesapeake Utilities in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Chesapeake Utilities currently has an average rating of “Hold” and an average price target of $138.60.

About Chesapeake Utilities (Get Rating)

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

Read More

Want to see what other hedge funds are holding CPK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chesapeake Utilities Co. (NYSE:CPKGet Rating).

Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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.