SG Americas Securities LLC Sells 172 Shares of Chesapeake Utilities Co. (NYSE:CPK)

SG Americas Securities LLC reduced its stake in shares of Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 3.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,920 shares of the utilities provider’s stock after selling 172 shares during the period. SG Americas Securities LLC’s holdings in Chesapeake Utilities were worth $568,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in Chesapeake Utilities by 100.0% during the 2nd quarter. Assetmark Inc. now owns 600 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 300 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in Chesapeake Utilities during the 3rd quarter worth approximately $88,000. First Horizon Advisors Inc. grew its holdings in shares of Chesapeake Utilities by 1,370.3% in the second quarter. First Horizon Advisors Inc. now owns 1,088 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 1,014 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Chesapeake Utilities in the second quarter valued at approximately $142,000. Finally, LS Investment Advisors LLC bought a new position in shares of Chesapeake Utilities in the second quarter valued at approximately $150,000. 74.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CPK shares. Guggenheim reduced their target price on Chesapeake Utilities from $136.00 to $120.00 in a report on Monday, October 24th. StockNews.com started coverage on Chesapeake Utilities in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company upped their target price on Chesapeake Utilities from $110.00 to $115.00 in a report on Wednesday, December 14th.

Insiders Place Their Bets

In related news, Director Lila A. Jaber bought 421 shares of the company’s stock in a transaction on Monday, November 28th. The shares were purchased at an average price of $118.06 per share, for a total transaction of $49,703.26. Following the completion of the transaction, the director now directly owns 2,968 shares in the company, valued at approximately $350,402.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.58% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of NYSE CPK opened at $121.03 on Tuesday. The stock has a fifty day simple moving average of $118.98 and a two-hundred day simple moving average of $123.03. Chesapeake Utilities Co. has a 1-year low of $105.79 and a 1-year high of $142.81. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 24.90 and a beta of 0.58. The company has a current ratio of 0.51, a quick ratio of 0.45 and a debt-to-equity ratio of 0.72.

Chesapeake Utilities (NYSE:CPKGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The utilities provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.21). Chesapeake Utilities had a net margin of 13.21% and a return on equity of 10.59%. The firm had revenue of $131.05 million for the quarter, compared to the consensus estimate of $126.50 million. Analysts anticipate that Chesapeake Utilities Co. will post 4.86 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, December 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is 44.03%.

About Chesapeake Utilities

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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.

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

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