SG Americas Securities LLC Makes New Investment in Chesapeake Utilities Corporation (NYSE:CPK)

SG Americas Securities LLC bought a new stake in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,984 shares of the utilities provider's stock, valued at approximately $512,000.

Several other institutional investors also recently bought and sold shares of CPK. Van ECK Associates Corp increased its stake in Chesapeake Utilities by 4.0% in the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider's stock worth $767,000 after purchasing an additional 246 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Chesapeake Utilities by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 110,442 shares of the utilities provider's stock worth $13,402,000 after purchasing an additional 4,632 shares during the last quarter. FourThought Financial Partners LLC bought a new position in shares of Chesapeake Utilities in the fourth quarter worth approximately $4,632,000. Illinois Municipal Retirement Fund increased its stake in shares of Chesapeake Utilities by 7.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 12,282 shares of the utilities provider's stock worth $1,490,000 after buying an additional 851 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in Chesapeake Utilities by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,350 shares of the utilities provider's stock valued at $649,000 after buying an additional 100 shares during the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Trading Up 0.7%

Chesapeake Utilities stock traded up $0.88 during mid-day trading on Thursday, reaching $121.17. 96,151 shares of the company traded hands, compared to its average volume of 108,941. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.46 and a quick ratio of 0.40. The firm's 50 day moving average price is $124.75 and its 200 day moving average price is $124.70. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 22.40 and a beta of 0.66. Chesapeake Utilities Corporation has a 52-week low of $104.56 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). Chesapeake Utilities had a net margin of 14.69% and a return on equity of 9.19%. The company had revenue of $298.70 million for the quarter, compared to the consensus estimate of $248.45 million. During the same period in the previous year, the firm posted $2.10 EPS. The company's revenue for the quarter was up 21.6% on a year-over-year basis. On average, 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 will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.685 per share. 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. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.26%. Chesapeake Utilities's dividend payout ratio is 50.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPK. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a report on Friday, May 9th. Barclays dropped their target price on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Finally, Wall Street Zen downgraded Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Chesapeake Utilities Company 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.