Chesapeake Utilities Corporation (NYSE:CPK) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 27.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,785 shares of the utilities provider’s stock after selling 1,824 shares during the period. Avantax Advisory Services Inc.’s holdings in Chesapeake Utilities were worth $615,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management acquired a new position in shares of Chesapeake Utilities in the 1st quarter valued at $26,000. Federated Hermes Inc. boosted its position in shares of Chesapeake Utilities by 587.1% in the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 182 shares during the period. NBC Securities Inc. acquired a new position in shares of Chesapeake Utilities in the 1st quarter valued at $30,000. Byrne Asset Management LLC boosted its position in shares of Chesapeake Utilities by 114.3% in the 1st 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 during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Chesapeake Utilities by 50.7% in the 1st 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. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Up 0.8%

Shares of Chesapeake Utilities stock opened at $120.43 on Tuesday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 22.26 and a beta of 0.66. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.46 and a quick ratio of 0.40. Chesapeake Utilities Corporation has a 52-week low of $111.00 and a 52-week high of $136.73. The stock has a 50-day simple moving average of $121.36 and a 200-day simple moving average of $124.80.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 14.69% and a return on equity of 9.19%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.10 earnings per share. On average, equities research analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were issued a $0.685 dividend. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, June 16th. This represents a $2.74 annualized dividend and a yield of 2.3%. Chesapeake Utilities’s dividend payout ratio is presently 50.65%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen lowered Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a research report on Friday, May 9th. Finally, Barclays decreased their price objective on Chesapeake Utilities from $124.00 to $120.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 22nd.

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.