BlueMountain Capital Management LLC raised its stake in Chesapeake Utilities Co. (NYSE:CPK) by 78.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,363 shares of the utilities provider’s stock after purchasing an additional 6,330 shares during the period. BlueMountain Capital Management LLC owned approximately 0.09% of Chesapeake Utilities worth $1,148,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. AdvisorNet Financial Inc lifted its holdings in shares of Chesapeake Utilities by 2,424.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 1,382 shares during the period. Archford Capital Strategies LLC bought a new position in Chesapeake Utilities during the 1st quarter valued at about $156,000. Mount Yale Investment Advisors LLC bought a new position in Chesapeake Utilities during the 1st quarter valued at about $196,000. United Services Automobile Association bought a new position in Chesapeake Utilities during the 2nd quarter valued at about $209,000. Finally, LPL Financial LLC bought a new position in Chesapeake Utilities during the 1st quarter valued at about $217,000. 63.67% of the stock is owned by hedge funds and other institutional investors.
CPK has been the subject of several analyst reports. Wells Fargo & Co lifted their price target on shares of Chesapeake Utilities from $86.00 to $88.00 and gave the company a “hold” rating in a report on Monday, September 24th. Zacks Investment Research upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Monday, August 13th. Janney Montgomery Scott cut shares of Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Monday, September 24th. Finally, ValuEngine upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $87.50.
CPK traded up $0.68 during midday trading on Friday, hitting $83.03. The company had a trading volume of 77,614 shares, compared to its average volume of 59,060. Chesapeake Utilities Co. has a twelve month low of $66.35 and a twelve month high of $90.90. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.37 billion and a PE ratio of 28.73.
Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%. The firm had revenue of $136.66 million for the quarter, compared to the consensus estimate of $140.85 million. On average, research analysts predict that Chesapeake Utilities Co. will post 3.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 5th. Investors of record on Friday, September 14th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, September 13th. Chesapeake Utilities’s payout ratio is 51.21%.
Chesapeake Utilities Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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