Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in Chesapeake Utilities Co. (NYSE:CPK) by 24.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,720 shares of the utilities provider’s stock after selling 1,196 shares during the quarter. BNP Paribas Financial Markets’ holdings in Chesapeake Utilities were worth $451,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. lifted its holdings in shares of Chesapeake Utilities by 587.1% during the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 182 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Chesapeake Utilities during the 4th quarter worth about $50,000. Sterling Capital Management LLC raised its holdings in Chesapeake Utilities by 805.2% in the 4th quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 620 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Chesapeake Utilities by 159.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 539 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Chesapeake Utilities by 46.2% during the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 331 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Trading Up 0.9%

Chesapeake Utilities stock opened at $122.11 on Monday. Chesapeake Utilities Co. has a 52-week low of $102.64 and a 52-week high of $136.73. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 24.77 and a beta of 0.71. The firm has a 50-day moving average price of $128.39 and a two-hundred day moving average price of $126.07. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.06). The company had revenue of $298.70 million for the quarter, compared to the consensus estimate of $248.45 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.10 earnings per share. Sell-side analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be issued a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a yield of 2.24%. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, June 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 50.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays lowered their price target on Chesapeake Utilities from $125.00 to $124.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 29th. Wall Street Zen cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a report on Friday, May 9th.

About Chesapeake Utilities

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.