Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS decreased its stake in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 28.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,470 shares of the utilities provider's stock after selling 4,860 shares during the quarter. Legacy Wealth Management LLC MS owned about 0.05% of Chesapeake Utilities worth $1,602,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Barclays PLC grew its holdings in shares of Chesapeake Utilities by 5.5% during the fourth quarter. Barclays PLC now owns 39,078 shares of the utilities provider's stock valued at $4,742,000 after buying an additional 2,030 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Chesapeake Utilities by 1.6% during 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 last quarter. Van ECK Associates Corp increased its stake in shares of Chesapeake Utilities by 4.0% in the fourth quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider's stock worth $767,000 after acquiring an additional 246 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Chesapeake Utilities in the fourth quarter worth $5,110,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Chesapeake Utilities in the fourth quarter worth $1,216,000. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Stock Performance

CPK stock traded down $0.84 during midday trading on Monday, hitting $121.35. 28,114 shares of the stock traded hands, compared to its average volume of 108,849. The firm has a market cap of $2.83 billion, a P/E ratio of 24.61 and a beta of 0.71. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The stock's fifty day simple moving average is $128.05 and its 200-day simple moving average is $125.93. Chesapeake Utilities Co. has a 1-year low of $102.64 and a 1-year high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted 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 return on equity of 9.08% and a net margin of 14.16%. The firm had revenue of $298.70 million for the quarter, compared to analysts' expectations of $248.45 million. During the same period in the previous year, the company earned $2.10 earnings per share. The company's revenue was up 21.6% compared to the same quarter last year. On average, analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be 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 2.26%. The ex-dividend date of this dividend is Monday, June 16th. Chesapeake Utilities's dividend payout ratio is presently 50.65%.

Analyst Upgrades and Downgrades

CPK has been the topic of a number of research reports. LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th. Wall Street Zen lowered 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 objective on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 29th.

About Chesapeake Utilities

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.