Ghisallo Capital Management LLC Cuts Stake in Chesapeake Utilities Co. (NYSE:CPK)

Ghisallo Capital Management LLC trimmed its stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 50.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,000 shares of the utilities provider's stock after selling 25,000 shares during the period. Ghisallo Capital Management LLC owned approximately 0.11% of Chesapeake Utilities worth $2,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CPK. Fortis Group Advisors LLC grew its stake in Chesapeake Utilities by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider's stock worth $31,000 after buying an additional 146 shares in the last quarter. GAMMA Investing LLC grew its position in Chesapeake Utilities by 180.1% in the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider's stock worth $67,000 after acquiring an additional 407 shares in the last quarter. Fifth Third Bancorp increased its stake in Chesapeake Utilities by 17.7% in the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider's stock valued at $81,000 after acquiring an additional 115 shares during the last quarter. Spirit of America Management Corp NY raised its position in Chesapeake Utilities by 81.8% during the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider's stock valued at $106,000 after purchasing an additional 450 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its stake in Chesapeake Utilities by 10.2% during the first quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider's stock worth $116,000 after purchasing an additional 100 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Trading Down 0.9 %

Shares of NYSE CPK traded down $1.13 during midday trading on Wednesday, reaching $122.17. The company had a trading volume of 51,747 shares, compared to its average volume of 117,763. The firm's fifty day moving average price is $118.58 and its 200-day moving average price is $111.52. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. Chesapeake Utilities Co. has a one year low of $83.79 and a one year high of $125.34. The stock has a market cap of $2.72 billion, a PE ratio of 25.67 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $166.30 million during the quarter, compared to analysts' expectations of $194.70 million. Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities research analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be issued a dividend of $0.64 per share. The ex-dividend date is Monday, September 16th. This represents a $2.56 dividend on an annualized basis and a yield of 2.10%. Chesapeake Utilities's dividend payout ratio is presently 53.78%.

Insider Buying and Selling at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the sale, the director now directly owns 8,363 shares of the company's stock, valued at approximately $949,702.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Barclays increased their price objective on Chesapeake Utilities from $111.00 to $118.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Chesapeake Utilities presently has a consensus rating of "Hold" and a consensus target price of $111.20.

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.