Chesapeake Utilities Corporation $CPK Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp reduced its Chesapeake Utilities stake by 5.4%, selling 16,230 shares; it retained 286,489 shares, worth about $36.8 million.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $142.50; individual targets ranged from $134 to $150.
• Chesapeake Utilities’ latest quarter showed revenue up 9% year over year to $195.8 million, but EPS of $0.89 fell short of the $0.93 consensus. The company announced a quarterly dividend of $0.735 per share.

Boston Trust Walden Corp cut its stake in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 286,489 shares of the utilities provider's stock after selling 16,230 shares during the period. Boston Trust Walden Corp owned 1.19% of Chesapeake Utilities worth $36,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Greenleaf Trust bought a new stake in Chesapeake Utilities during the 3rd quarter worth about $207,000. ProShare Advisors LLC lifted its position in Chesapeake Utilities by 29.6% during the 3rd quarter. ProShare Advisors LLC now owns 78,013 shares of the utilities provider's stock valued at $10,022,000 after purchasing an additional 17,831 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Chesapeake Utilities in the 3rd quarter valued at about $206,000. Moody Aldrich Partners LLC boosted its stake in shares of Chesapeake Utilities by 11.8% in the 3rd quarter. Moody Aldrich Partners LLC now owns 47,616 shares of the utilities provider's stock valued at $6,117,000 after purchasing an additional 5,039 shares during the last quarter. Finally, Abel Hall LLC bought a new position in shares of Chesapeake Utilities in the 3rd quarter valued at about $220,000. 83.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CPK shares. Wall Street Zen cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Barclays set a $134.00 price target on Chesapeake Utilities and gave the stock an "equal weight" rating in a research report on Monday, October 19th. Weiss Ratings raised Chesapeake Utilities from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, October 21st. Mizuho set a $150.00 price objective on Chesapeake Utilities and gave the company an "outperform" rating in a report on Friday, September 11th. Finally, Wells Fargo & Company set a $136.00 price objective on Chesapeake Utilities and gave the company an "equal weight" rating in a report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $142.50.

Chesapeake Utilities Trading Up 0.2%

NYSE:CPK opened at $141.92 on Friday. The company has a market cap of $3.42 billion, a P/E ratio of 22.63 and a beta of 0.62. Chesapeake Utilities Corporation has a twelve month low of $118.88 and a twelve month high of $145.54. The business has a 50 day moving average price of $131.45 and a two-hundred day moving average price of $129.52. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The utilities provider reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.04). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The business had revenue of $195.80 million for the quarter, compared to analyst estimates of $193.31 million. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts expect that Chesapeake Utilities Corporation will post 6.40 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.7350 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.1%. Chesapeake Utilities's payout ratio is presently 46.89%.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation is an energy delivery company that provides natural gas, propane, electricity and related services to residential, commercial, industrial and institutional customers. Its operations include regulated utility businesses as well as unregulated energy and infrastructure activities.

The company distributes natural gas and electricity, transports natural gas through pipeline systems, and supplies propane and other fuels. It also develops and operates energy infrastructure and provides renewable natural gas and other energy solutions through its portfolio of operating subsidiaries.

Founded in 1859, Chesapeake Utilities serves customers primarily in Delaware, Maryland, Pennsylvania, Virginia, Florida and Ohio.

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