Sei Investments Co. Sells 333 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Sei Investments Co. lowered its position in Chesapeake Utilities Co. (NYSE:CPK) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,945 shares of the utilities provider’s stock after selling 333 shares during the period. Sei Investments Co. owned about 0.21% of Chesapeake Utilities worth $4,879,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Wealthspire Advisors LLC boosted its holdings in shares of Chesapeake Utilities by 0.3% in the first quarter. Wealthspire Advisors LLC now owns 29,251 shares of the utilities provider’s stock valued at $3,139,000 after buying an additional 95 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Chesapeake Utilities by 0.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 12,191 shares of the utilities provider’s stock worth $1,308,000 after purchasing an additional 99 shares during the period. New York State Teachers Retirement System increased its holdings in Chesapeake Utilities by 1.8% during the 1st quarter. New York State Teachers Retirement System now owns 5,657 shares of the utilities provider’s stock worth $607,000 after purchasing an additional 100 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of Chesapeake Utilities by 10.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 100 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Chesapeake Utilities by 17.7% in the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $113.56, for a total value of $1,094,037.04. Following the sale, the director now directly owns 8,363 shares of the company’s stock, valued at approximately $949,702.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays increased their price objective on Chesapeake Utilities from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $111.20.

Chesapeake Utilities Trading Down 0.7 %

Shares of NYSE:CPK opened at $123.32 on Wednesday. The company’s 50-day moving average price is $118.58 and its two-hundred day moving average price is $111.52. Chesapeake Utilities Co. has a one year low of $83.79 and a one year high of $125.34. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. The stock has a market capitalization of $2.75 billion, a PE ratio of 25.91 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $194.70 million. Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The business’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. On average, equities analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.08%. Chesapeake Utilities’s dividend payout ratio is presently 53.78%.

Chesapeake Utilities 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.