Chesapeake Utilities Co. (NYSE:CPK) Holdings Lifted by Credit Suisse AG

Credit Suisse AG increased its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,102 shares of the utilities provider’s stock after buying an additional 749 shares during the quarter. Credit Suisse AG owned 0.12% of Chesapeake Utilities worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CPK. Millennium Management LLC purchased a new position in shares of Chesapeake Utilities during the second quarter valued at $18,219,000. First Trust Advisors LP grew its holdings in shares of Chesapeake Utilities by 20.4% during the fourth quarter. First Trust Advisors LP now owns 614,793 shares of the utilities provider’s stock valued at $72,659,000 after buying an additional 104,036 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Chesapeake Utilities by 23.0% during the first quarter. Copeland Capital Management LLC now owns 483,132 shares of the utilities provider’s stock valued at $61,836,000 after buying an additional 90,456 shares in the last quarter. Norges Bank purchased a new position in shares of Chesapeake Utilities during the fourth quarter valued at $6,750,000. Finally, Citadel Advisors LLC grew its holdings in shares of Chesapeake Utilities by 227.6% during the second quarter. Citadel Advisors LLC now owns 80,446 shares of the utilities provider’s stock valued at $10,422,000 after buying an additional 55,891 shares in the last quarter. Hedge funds and other institutional investors own 74.80% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffery S. Sylvester sold 1,900 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $121.87, for a total transaction of $231,553.00. Following the completion of the transaction, the chief operating officer now owns 8,123 shares of the company’s stock, valued at approximately $989,950.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.68% of the stock is owned by insiders.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $110.45 on Friday. Chesapeake Utilities Co. has a fifty-two week low of $105.79 and a fifty-two week high of $132.91. The business has a 50-day moving average of $116.34 and a two-hundred day moving average of $123.04. The stock has a market capitalization of $1.97 billion, a P/E ratio of 22.31 and a beta of 0.56. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.54 and a quick ratio of 0.44.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.08). Chesapeake Utilities had a return on equity of 10.48% and a net margin of 13.14%. The company had revenue of $135.59 million during the quarter, compared to analyst estimates of $170.60 million. On average, equities research analysts predict that Chesapeake Utilities Co. will post 5.16 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.36 annualized dividend and a dividend yield of 2.14%. Chesapeake Utilities’s dividend payout ratio is presently 47.68%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Guggenheim reduced their price objective on Chesapeake Utilities from $116.00 to $112.00 in a research report on Friday, July 7th. StockNews.com assumed coverage on Chesapeake Utilities in a research report on Thursday, August 17th. They set a “hold” rating for the company.

Chesapeake Utilities Company Profile

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