Teacher Retirement System of Texas Takes $603,000 Position in Chesapeake Utilities Corporation (NYSE:CPK)

Teacher Retirement System of Texas bought a new position in Chesapeake Utilities Corporation (NYSE:CPK) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 4,698 shares of the utilities provider’s stock, valued at approximately $603,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of 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. Spire Wealth Management bought a new stake in Chesapeake Utilities during the 1st quarter worth approximately $26,000. NBC Securities Inc. bought a new stake in Chesapeake Utilities during the 1st quarter worth approximately $30,000. Byrne Asset Management LLC lifted its holdings in Chesapeake Utilities by 114.3% during the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Chesapeake Utilities by 50.7% in the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 106 shares during the period. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Performance

CPK opened at $121.48 on Wednesday. The company has a fifty day moving average of $121.97 and a 200 day moving average of $124.63. Chesapeake Utilities Corporation has a fifty-two week low of $111.00 and a fifty-two week high of $136.73. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 22.45 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.46.

Chesapeake Utilities (NYSE:CPK) last announced 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 firm had revenue of $298.70 million for the quarter, compared to the consensus estimate of $248.45 million. Chesapeake Utilities had a net margin of 14.69% and a return on equity of 9.19%. Chesapeake Utilities’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 earnings per share. As a group, sell-side analysts forecast that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were given a dividend of $0.685 per share. The ex-dividend date was Monday, June 16th. This represents a $2.74 annualized dividend and a yield of 2.26%. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.64. Chesapeake Utilities’s dividend payout ratio (DPR) is 50.65%.

Analyst Upgrades and Downgrades

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

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.