Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lowered its position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 14.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 215,000 shares of the utilities provider's stock after selling 35,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.94% of Chesapeake Utilities worth $26,090,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Federated Hermes Inc. lifted its stake 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 in the last quarter. Versant Capital Management Inc raised its holdings in shares of Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider's stock valued at $28,000 after buying an additional 222 shares during the period. Quantbot Technologies LP acquired a new position in Chesapeake Utilities during the 4th quarter worth approximately $50,000. Sterling Capital Management LLC boosted 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 worth $85,000 after acquiring an additional 620 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Chesapeake Utilities by 159.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock worth $106,000 after acquiring an additional 539 shares during the period. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Stock Performance

Shares of CPK traded up $0.88 during midday trading on Tuesday, hitting $132.28. 91,512 shares of the stock traded hands, compared to its average volume of 103,336. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The business's 50 day moving average price is $128.51 and its two-hundred day moving average price is $125.30. The firm has a market capitalization of $3.04 billion, a PE ratio of 26.83 and a beta of 0.66. Chesapeake Utilities Co. has a 1-year low of $102.64 and a 1-year high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.67 by ($0.04). The business had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter last year, the firm posted $1.64 EPS. Equities research analysts predict that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Friday, March 14th. Chesapeake Utilities's payout ratio is currently 48.58%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CPK shares. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a report on Tuesday, April 22nd. Barclays cut their target price on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, StockNews.com cut Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $122.67.

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.