MQS Management LLC Takes Position in Chesapeake Utilities Corporation (NYSE:CPK)

MQS Management LLC acquired a new stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,057 shares of the utilities provider's stock, valued at approximately $393,000.

A number of other institutional investors have also recently made changes to their positions in the company. Xponance Inc. purchased a new position in shares of Chesapeake Utilities during the first quarter valued at about $217,000. Alps Advisors Inc. grew its position in shares of Chesapeake Utilities by 7.8% during the first quarter. Alps Advisors Inc. now owns 5,892 shares of the utilities provider's stock valued at $757,000 after purchasing an additional 427 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Chesapeake Utilities by 11.9% during the first quarter. Linden Thomas Advisory Services LLC now owns 7,490 shares of the utilities provider's stock valued at $962,000 after purchasing an additional 797 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Chesapeake Utilities by 3.6% during the first quarter. Envestnet Asset Management Inc. now owns 113,374 shares of the utilities provider's stock valued at $14,561,000 after purchasing an additional 3,901 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Chesapeake Utilities by 2.7% in the first quarter. Principal Financial Group Inc. now owns 113,431 shares of the utilities provider's stock worth $14,568,000 after acquiring an additional 2,989 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Barclays dropped their price target on Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th.

Chesapeake Utilities Trading Down 0.7%

Shares of NYSE:CPK traded down $0.89 during trading hours on Thursday, hitting $121.72. 118,219 shares of the company's stock traded hands, compared to its average volume of 106,823. Chesapeake Utilities Corporation has a 1 year low of $111.00 and a 1 year high of $136.73. The business has a fifty day moving average price of $121.58 and a 200-day moving average price of $124.63. The firm has a market capitalization of $2.84 billion, a P/E ratio of 22.50 and a beta of 0.65. 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 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 14.69% and a return on equity of 9.19%. The business had revenue of $298.70 million for the quarter, compared to analysts' expectations of $248.45 million. During the same quarter last year, the firm earned $2.10 EPS. The firm's quarterly revenue was up 21.6% on a year-over-year basis. Equities analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were given a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. Chesapeake Utilities's payout ratio is 50.65%.

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.