Exchange Traded Concepts LLC Raises Holdings in Chesapeake Utilities Corporation (NYSE:CPK)

Exchange Traded Concepts LLC increased its holdings in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,921 shares of the utilities provider's stock after purchasing an additional 5,585 shares during the period. Exchange Traded Concepts LLC owned 0.26% of Chesapeake Utilities worth $7,696,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPK. Barclays PLC raised its holdings in shares of Chesapeake Utilities by 5.5% during the 4th quarter. Barclays PLC now owns 39,078 shares of the utilities provider's stock worth $4,742,000 after acquiring an additional 2,030 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Chesapeake Utilities by 1.6% in the 4th quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider's stock worth $791,000 after buying an additional 103 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Chesapeake Utilities by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider's stock valued at $767,000 after buying an additional 246 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Chesapeake Utilities in the 4th quarter valued at about $5,110,000. Finally, Natixis Advisors LLC purchased a new position in Chesapeake Utilities in the fourth quarter worth about $1,216,000. 83.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPK has been the subject of several analyst reports. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a report on Friday, May 9th. Finally, Barclays dropped their price objective on Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th.

Chesapeake Utilities Trading Down 0.3%

CPK stock traded down $0.35 during trading on Tuesday, hitting $118.66. The company had a trading volume of 79,713 shares, compared to its average volume of 106,878. Chesapeake Utilities Corporation has a 52-week low of $102.64 and a 52-week high of $136.73. The company has a 50 day simple moving average of $126.36 and a 200-day simple moving average of $125.11. The firm has a market capitalization of $2.77 billion, a P/E ratio of 21.60 and a beta of 0.66. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.87.

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

Chesapeake Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be given a dividend of $0.685 per share. This is an increase from Chesapeake Utilities's previous quarterly dividend of $0.64. The ex-dividend date is Monday, June 16th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.31%. Chesapeake Utilities's dividend payout ratio is presently 50.65%.

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.