Peregrine Capital Management LLC Cuts Stock Position in Chesapeake Utilities Corporation (NYSE:CPK)

Peregrine Capital Management LLC trimmed its position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,253 shares of the utilities provider's stock after selling 2,808 shares during the quarter. Peregrine Capital Management LLC owned about 0.22% of Chesapeake Utilities worth $6,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CPK. Vanguard Group Inc. grew its holdings in Chesapeake Utilities by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,934,574 shares of the utilities provider's stock worth $234,761,000 after purchasing an additional 44,692 shares during the last quarter. Invesco Ltd. boosted its position in shares of Chesapeake Utilities by 3.0% in the 4th quarter. Invesco Ltd. now owns 464,679 shares of the utilities provider's stock worth $56,389,000 after purchasing an additional 13,742 shares in the last quarter. JPMorgan Chase & Co. increased its position in Chesapeake Utilities by 10.3% during the 4th quarter. JPMorgan Chase & Co. now owns 317,752 shares of the utilities provider's stock valued at $38,559,000 after buying an additional 29,759 shares in the last quarter. Northern Trust Corp raised its stake in Chesapeake Utilities by 9.0% in the fourth quarter. Northern Trust Corp now owns 281,910 shares of the utilities provider's stock valued at $34,210,000 after buying an additional 23,160 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Chesapeake Utilities by 4.2% in 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 buying an additional 10,822 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Stock Down 0.7%

Chesapeake Utilities stock opened at $120.01 on Tuesday. The business's 50-day simple moving average is $124.19 and its two-hundred day simple moving average is $124.56. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.46. The company has a market cap of $2.80 billion, a PE ratio of 22.18 and a beta of 0.66. Chesapeake Utilities Corporation has a fifty-two week low of $104.56 and a fifty-two week high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($0.06). The firm had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. The company's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. Equities analysts anticipate that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Increases Dividend

The firm 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 represents a $2.74 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. Chesapeake Utilities's dividend payout ratio is presently 50.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Barclays cut their price target 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.

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