Exchange Traded Concepts LLC Buys 5,585 Shares of Chesapeake Utilities Corporation (NYSE:CPK)

Exchange Traded Concepts LLC increased its position in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 59,921 shares of the utilities provider's stock after acquiring an additional 5,585 shares during the quarter. Exchange Traded Concepts LLC owned about 0.26% of Chesapeake Utilities worth $7,696,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of Chesapeake Utilities by 587.1% during the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after acquiring an additional 182 shares in the last quarter. NBC Securities Inc. bought a new position in Chesapeake Utilities in the 1st quarter worth about $30,000. Byrne Asset Management LLC boosted its stake in Chesapeake Utilities by 114.3% in the 1st quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after purchasing an additional 144 shares during the period. Farther Finance Advisors LLC grew its holdings in Chesapeake Utilities by 50.7% during the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock valued at $41,000 after buying an additional 106 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Chesapeake Utilities during the 4th quarter valued at about $50,000. 83.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPK. LADENBURG THALM/SH SH raised shares of 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 price target on shares of 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 Price Performance

NYSE CPK traded up $1.94 during trading on Thursday, reaching $120.69. The company's stock had a trading volume of 180,351 shares, compared to its average volume of 107,367. The firm has a fifty day moving average of $126.07 and a 200 day moving average of $125.04. Chesapeake Utilities Corporation has a one year low of $102.64 and a one year high of $136.73. The stock has a market capitalization of $2.82 billion, a PE ratio of 22.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.46 and a quick ratio of 0.40.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.06). The firm had revenue of $298.70 million for the quarter, compared to the consensus estimate of $248.45 million. Chesapeake Utilities had a net margin of 14.69% and a return on equity of 9.19%. Chesapeake Utilities's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 earnings per share. Analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.685 per share. The ex-dividend date is Monday, June 16th. This is an increase from Chesapeake Utilities's previous quarterly dividend of $0.64. This represents a $2.74 annualized dividend and a dividend yield of 2.27%. Chesapeake Utilities's dividend payout ratio (DPR) is 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.