Jane Street Group LLC Sells 38,424 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Jane Street Group LLC lessened its stake in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 93.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,608 shares of the utilities provider's stock after selling 38,424 shares during the period. Jane Street Group LLC's holdings in Chesapeake Utilities were worth $316,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in shares of Chesapeake Utilities by 587.1% in the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Quantbot Technologies LP purchased a new position in Chesapeake Utilities during the fourth quarter valued at approximately $50,000. Sterling Capital Management LLC grew its stake in Chesapeake Utilities by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider's stock valued at $85,000 after acquiring an additional 620 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Chesapeake Utilities by 159.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock valued at $106,000 after acquiring an additional 539 shares in the last quarter. Finally, KBC Group NV grew its stake in Chesapeake Utilities by 46.2% during the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider's stock valued at $127,000 after acquiring an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company's stock.

Wall Street Analyst Weigh In

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

Chesapeake Utilities Price Performance

Chesapeake Utilities stock traded down $0.83 during mid-day trading on Friday, hitting $118.63. 57,305 shares of the company traded hands, compared to its average volume of 106,276. Chesapeake Utilities Co. has a one year low of $102.64 and a one year high of $136.73. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 24.06 and a beta of 0.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The stock has a fifty day moving average price of $127.37 and a 200-day moving average price of $125.67.

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

Chesapeake Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be given a dividend of $0.685 per share. The ex-dividend date is Monday, June 16th. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. This represents a $2.74 annualized dividend and a yield of 2.31%. Chesapeake Utilities's 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.