Bank of New York Mellon Corp lessened its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 372,024 shares of the utilities provider's stock after selling 3,158 shares during the quarter. Bank of New York Mellon Corp owned about 1.63% of Chesapeake Utilities worth $45,145,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Private Advisor Group LLC acquired a new stake in Chesapeake Utilities in the third quarter worth about $202,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Chesapeake Utilities by 12.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,243 shares of the utilities provider's stock worth $527,000 after buying an additional 466 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Chesapeake Utilities in the 3rd quarter worth approximately $734,000. Assetmark Inc. boosted its stake in Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider's stock valued at $79,000 after purchasing an additional 102 shares in the last quarter. Finally, Arrow Financial Corp bought a new stake in shares of Chesapeake Utilities in the 3rd quarter worth $308,000. Institutional investors own 83.11% of the company's stock.
Chesapeake Utilities Trading Down 1.2 %
Shares of CPK traded down $1.57 during midday trading on Monday, hitting $128.80. The stock had a trading volume of 88,317 shares, compared to its average volume of 93,318. Chesapeake Utilities Co. has a fifty-two week low of $98.32 and a fifty-two week high of $134.20. The business has a 50-day simple moving average of $122.93 and a two-hundred day simple moving average of $122.93. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The firm has a market cap of $2.96 billion, a P/E ratio of 26.13 and a beta of 0.60.
Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.04). The firm had revenue of $215.00 million for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $1.64 earnings per share. As a group, equities analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current year.
Chesapeake Utilities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.64 per share. The ex-dividend date is Friday, March 14th. This represents a $2.56 annualized dividend and a yield of 1.99%. Chesapeake Utilities's dividend payout ratio (DPR) is presently 48.58%.
Analyst Ratings Changes
Several research analysts recently weighed in on CPK shares. Guggenheim raised their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. StockNews.com upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Friday.
Get Our Latest Research Report on CPK
About Chesapeake Utilities
(
Free Report)
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.
Recommended Stories
Before you consider Chesapeake Utilities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chesapeake Utilities wasn't on the list.
While Chesapeake Utilities currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
