3,057 Shares in Chesapeake Utilities Corporation (NYSE:CPK) Bought by MQS Management LLC

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Chesapeake Utilities by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 269,886 shares of the utilities provider's stock valued at $32,751,000 after purchasing an additional 10,822 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Chesapeake Utilities in the fourth quarter valued at approximately $1,399,000. Raymond James Financial Inc. purchased a new stake in shares of Chesapeake Utilities during the 4th quarter valued at approximately $5,110,000. Swiss National Bank boosted its holdings in Chesapeake Utilities by 1.4% in the 4th quarter. Swiss National Bank now owns 44,150 shares of the utilities provider's stock worth $5,358,000 after buying an additional 600 shares during the period. Finally, Natixis Advisors LLC bought a new position in Chesapeake Utilities in the 4th quarter worth approximately $1,216,000. Institutional investors own 83.11% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays dropped their target price on 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. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Chesapeake Utilities Price Performance

NYSE:CPK traded up $0.35 during trading hours on Monday, hitting $123.57. 104,186 shares of the company's stock traded hands, compared to its average volume of 115,856. The firm has a market cap of $2.88 billion, a P/E ratio of 22.84 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.87. The business's fifty day simple moving average is $122.39 and its two-hundred day simple moving average is $124.63. Chesapeake Utilities Corporation has a 52 week low of $110.37 and a 52 week high of $136.73.

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 for the quarter, missing analysts' consensus estimates of $2.28 by ($0.06). The company had revenue of $298.70 million during the quarter, compared to analysts' expectations of $248.45 million. Chesapeake Utilities had a net margin of 14.69% and a return on equity of 9.19%. The company's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 earnings per share. On average, research analysts anticipate that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were paid a $0.685 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.74 annualized dividend and a yield of 2.22%. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. Chesapeake Utilities's dividend payout ratio is currently 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.