Maryland State Retirement & Pension System Raises Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Maryland State Retirement & Pension System lifted its position in Chesapeake Utilities Co. (NYSE:CPK) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,009 shares of the utilities provider’s stock after buying an additional 922 shares during the period. Maryland State Retirement & Pension System owned approximately 0.12% of Chesapeake Utilities worth $2,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. grew its position in shares of Chesapeake Utilities by 308.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 286 shares of the utilities provider’s stock worth $30,000 after buying an additional 216 shares during the last quarter. Fortis Group Advisors LLC grew its position in shares of 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 during the last quarter. GAMMA Investing LLC purchased a new position in shares of Chesapeake Utilities in the 4th quarter worth approximately $30,000. Principal Securities Inc. purchased a new position in shares of Chesapeake Utilities in the 4th quarter worth approximately $41,000. Finally, Signaturefd LLC grew its position in shares of Chesapeake Utilities by 126.1% in the 4th quarter. Signaturefd LLC now owns 398 shares of the utilities provider’s stock worth $42,000 after buying an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Performance

Shares of NYSE CPK opened at $106.44 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. Chesapeake Utilities Co. has a 12 month low of $83.79 and a 12 month high of $124.72. The company has a 50 day simple moving average of $108.39 and a two-hundred day simple moving average of $105.28. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 22.36 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.04). Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The business had revenue of $245.70 million for the quarter, compared to analyst estimates of $260.16 million. During the same quarter in the previous year, the firm posted $2.04 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. As a group, analysts predict that Chesapeake Utilities Co. will post 5.41 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were paid a $0.64 dividend. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.59. This represents a $2.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, June 14th. Chesapeake Utilities’s payout ratio is currently 53.78%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barclays started coverage on shares of Chesapeake Utilities in a research report on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $109.80.

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.