Chesapeake Utilities Co. (NYSE:CPK) Stake Lessened by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,877 shares of the utilities provider's stock after selling 2,776 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Chesapeake Utilities worth $8,589,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in Chesapeake Utilities by 587.1% in the 4th 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 stake in shares of Chesapeake Utilities during the fourth quarter worth $50,000. Sterling Capital Management LLC increased its stake in 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 during the last quarter. Smartleaf Asset Management LLC lifted its position in Chesapeake Utilities by 159.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock worth $106,000 after buying an additional 539 shares during the period. Finally, Capula Management Ltd acquired a new stake in Chesapeake Utilities in the 4th quarter worth about $237,000. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Down 0.0%

Shares of NYSE:CPK traded down $0.03 during mid-day trading on Thursday, hitting $120.08. 15,879 shares of the company traded hands, compared to its average volume of 105,811. The firm has a market cap of $2.80 billion, a P/E ratio of 24.36 and a beta of 0.66. Chesapeake Utilities Co. has a 52-week low of $102.64 and a 52-week high of $136.73. The firm's 50 day simple moving average is $126.70 and its 200 day simple moving average is $125.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

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 the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The business 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 business earned $2.10 earnings per share. The firm's revenue was up 21.6% on a year-over-year basis. On average, equities analysts anticipate that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.28%. This is an increase from Chesapeake Utilities's previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Monday, June 16th. Chesapeake Utilities's payout ratio is 50.65%.

Analyst Ratings Changes

CPK has been the topic of several recent analyst reports. LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities to a "strong-buy" rating in a report on Friday, May 9th. 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 note on Tuesday, April 29th. Finally, Wall Street Zen cut Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Chesapeake Utilities Profile

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.