Chesapeake Utilities Corporation (NYSE:CPK) Stake Cut by Yousif Capital Management LLC

Yousif Capital Management LLC cut its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,409 shares of the utilities provider’s stock after selling 193 shares during the quarter. Yousif Capital Management LLC’s holdings in Chesapeake Utilities were worth $1,080,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CPK. Federated Hermes Inc. increased its position in Chesapeake Utilities by 587.1% in the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after buying an additional 182 shares during the period. NBC Securities Inc. acquired a new stake in Chesapeake Utilities in the first quarter worth $30,000. Farther Finance Advisors LLC increased its holdings in shares of Chesapeake Utilities by 50.7% during the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 106 shares during the period. Quantbot Technologies LP acquired a new position in shares of Chesapeake Utilities during the fourth quarter valued at $50,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Chesapeake Utilities by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 620 shares during the period. 83.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Chesapeake Utilities Price Performance

NYSE:CPK opened at $120.69 on Thursday. The business’s 50-day moving average price is $126.07 and its 200 day moving average price is $125.04. The firm has a market cap of $2.82 billion, a P/E ratio of 22.31 and a beta of 0.66. Chesapeake Utilities Corporation has a 52-week low of $102.64 and a 52-week high of $136.73. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.06). The firm had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. Chesapeake Utilities’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 earnings per share. As a group, sell-side analysts predict that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company 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 is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.64. This represents a $2.74 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Monday, June 16th. Chesapeake Utilities’s payout ratio is presently 50.65%.

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.