Jane Street Group LLC Cuts Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Jane Street Group LLC reduced its stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 93.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,608 shares of the utilities provider's stock after selling 38,424 shares during the quarter. Jane Street Group LLC's holdings in Chesapeake Utilities were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its position 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 valued at $4,742,000 after purchasing an additional 2,030 shares in the last quarter. Arizona State Retirement System lifted its stake in Chesapeake Utilities by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider's stock valued at $791,000 after buying an additional 103 shares during the period. Van ECK Associates Corp lifted its stake in Chesapeake Utilities by 4.0% in the fourth 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 during the period. Raymond James Financial Inc. bought a new position in shares of Chesapeake Utilities during the 4th quarter worth approximately $5,110,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Chesapeake Utilities during the 4th quarter worth approximately $1,216,000. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Down 0.2%

Chesapeake Utilities stock traded down $0.28 during mid-day trading on Thursday, reaching $119.59. The stock had a trading volume of 41,133 shares, compared to its average volume of 108,861. The firm has a market capitalization of $2.79 billion, a PE ratio of 24.26 and a beta of 0.71. Chesapeake Utilities Co. has a fifty-two week low of $102.64 and a fifty-two week high of $136.73. The stock's 50-day simple moving average is $127.77 and its 200-day simple moving average is $125.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.28 by ($0.06). The firm had revenue of $298.70 million during the quarter, compared to the consensus estimate of $248.45 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. Chesapeake Utilities's revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. On average, sell-side analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be paid a $0.685 dividend. 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 2.29%. Chesapeake Utilities's dividend payout ratio is 50.65%.

Analyst Ratings Changes

A number of research firms recently issued reports on CPK. Barclays dropped their target price on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th.

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.