Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in Chesapeake Utilities Co. (NYSE:CPK) by 78.1% in the third quarter, HoldingsChannel reports. The firm owned 833 shares of the utilities provider’s stock after selling 2,974 shares during the quarter. SG Americas Securities LLC’s holdings in Chesapeake Utilities were worth $103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wedge Capital Management L L P NC raised its holdings in shares of Chesapeake Utilities by 33.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 57,163 shares of the utilities provider’s stock valued at $6,071,000 after purchasing an additional 14,417 shares in the last quarter. Boston Trust Walden Corp raised its stake in Chesapeake Utilities by 76.1% in the second quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock valued at $29,142,000 after buying an additional 118,561 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in Chesapeake Utilities during the 1st quarter worth about $583,000. Vanguard Group Inc. lifted its holdings in Chesapeake Utilities by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after buying an additional 118,878 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Chesapeake Utilities by 61.5% during the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock worth $29,529,000 after acquiring an additional 104,850 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance

NYSE CPK opened at $120.65 on Monday. The company has a fifty day moving average of $119.98 and a two-hundred day moving average of $113.47. The company has a market capitalization of $2.69 billion, a PE ratio of 25.35 and a beta of 0.61. Chesapeake Utilities Co. has a 1 year low of $83.79 and a 1 year high of $125.34. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The firm had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $194.70 million. During the same quarter in the prior year, the business earned $0.90 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 16th were given a $0.64 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.56 annualized dividend and a yield of 2.12%. Chesapeake Utilities’s dividend payout ratio (DPR) is 53.78%.

Analyst Upgrades and Downgrades

Separately, Barclays boosted their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th.

Insider Buying and Selling

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $113.56, for a total value of $1,094,037.04. Following the transaction, the director now owns 8,363 shares in the company, valued at $949,702.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.68% of the stock is owned by company insiders.

Chesapeake Utilities Company 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.