Rhumbline Advisers Has $8.59 Million Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Rhumbline Advisers decreased its stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,877 shares of the utilities provider's stock after selling 2,776 shares during the period. Rhumbline Advisers owned approximately 0.29% of Chesapeake Utilities worth $8,589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CPK. Federated Hermes Inc. raised 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 valued at $26,000 after purchasing an additional 182 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Utilities in the fourth quarter valued at $50,000. Sterling Capital Management LLC raised its stake in shares of Chesapeake Utilities by 805.2% in the fourth quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider's stock valued at $85,000 after purchasing an additional 620 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Chesapeake Utilities by 159.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock valued at $106,000 after purchasing an additional 539 shares in the last quarter. Finally, Capula Management Ltd acquired a new position in shares of Chesapeake Utilities in the fourth quarter valued at $237,000. Institutional investors and hedge funds own 83.11% of the company's stock.

Analyst Upgrades and Downgrades

CPK has been the subject of a number of recent research reports. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Barclays cut their target price on 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. Finally, LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock traded down $1.87 during mid-day trading on Friday, hitting $119.26. 101,463 shares of the company were exchanged, compared to its average volume of 106,630. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average of $126.48 and a 200 day moving average of $125.25. Chesapeake Utilities Co. has a 1-year low of $102.64 and a 1-year high of $136.73. The company has a market capitalization of $2.78 billion, a PE ratio of 24.19 and a beta of 0.66.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings data 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 company had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. During the same quarter in the prior year, the company earned $2.10 earnings per share. The business's revenue was up 21.6% compared to the same quarter last year. As a group, sell-side analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The firm 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 $0.685 dividend. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.30%. Chesapeake Utilities's dividend payout ratio (DPR) 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.