Envestnet Asset Management Inc. Grows Stock Holdings in Chesapeake Utilities Corporation (NYSE:CPK)

Envestnet Asset Management Inc. lifted its position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,374 shares of the utilities provider's stock after purchasing an additional 3,901 shares during the quarter. Envestnet Asset Management Inc. owned about 0.49% of Chesapeake Utilities worth $14,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPK. Farther Finance Advisors LLC increased its position in shares of Chesapeake Utilities by 50.7% during the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 106 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Chesapeake Utilities by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,313 shares of the utilities provider's stock worth $281,000 after purchasing an additional 109 shares during the last quarter. Byrne Asset Management LLC lifted its holdings in shares of Chesapeake Utilities by 114.3% during the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Pitcairn Co. boosted its position in shares of Chesapeake Utilities by 2.7% during the fourth quarter. Pitcairn Co. now owns 5,767 shares of the utilities provider's stock valued at $700,000 after buying an additional 150 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Chesapeake Utilities by 3.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,396 shares of the utilities provider's stock worth $533,000 after buying an additional 153 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CPK. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a report on Friday, May 9th. Wall Street Zen cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Barclays cut their target price on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th.

Chesapeake Utilities Trading Up 0.5%

Shares of NYSE:CPK traded up $0.59 during trading on Friday, hitting $122.04. The company had a trading volume of 133,659 shares, compared to its average volume of 106,999. Chesapeake Utilities Corporation has a one year low of $111.00 and a one year high of $136.73. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 22.56 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.46 and a quick ratio of 0.40. The company has a fifty day simple moving average of $121.49 and a two-hundred day simple moving average of $124.65.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share for the quarter, missing analysts' consensus estimates of $2.28 by ($0.06). The business had revenue of $298.70 million during the quarter, compared to analysts' expectations of $248.45 million. Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. The business's revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 EPS. As a group, equities analysts forecast that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were paid a dividend of $0.685 per share. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. This represents a $2.74 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, June 16th. Chesapeake Utilities's dividend payout ratio is presently 50.65%.

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.