Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Chesapeake Utilities Corporation (NYSE:CPK)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,652 shares of the utilities provider’s stock after purchasing an additional 637 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chesapeake Utilities were worth $597,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in Chesapeake Utilities by 587.1% during 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 in the last quarter. Spire Wealth Management acquired a new stake in Chesapeake Utilities during the 1st quarter valued at $26,000. NBC Securities Inc. acquired a new stake in Chesapeake Utilities during the 1st quarter valued at $30,000. Byrne Asset Management LLC grew its holdings in Chesapeake Utilities by 114.3% during 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 in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Chesapeake Utilities by 50.7% during 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 in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Trading Up 0.6%

NYSE CPK opened at $120.53 on Thursday. Chesapeake Utilities Corporation has a one year low of $111.00 and a one year high of $136.73. The company has a 50-day simple moving average of $121.30 and a 200-day simple moving average of $124.74. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.46. The firm has a market capitalization of $2.81 billion, a PE ratio of 22.28 and a beta of 0.66.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a net margin of 14.69% and a return on equity of 9.19%. The business had revenue of $298.70 million during the quarter, compared to analyst estimates of $248.45 million. During the same period last year, the firm posted $2.10 earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. On average, equities analysts forecast that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on CPK shares. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a report on Friday, May 9th. Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Barclays decreased their price objective on shares of Chesapeake Utilities from $124.00 to $120.00 and set an “equal weight” rating for the company in a 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.