Spirit of America Management Corp NY Raises Stake in Chesapeake Utilities Co. (NYSE:CPK)

Spirit of America Management Corp NY lifted its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 66.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,500 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. Spirit of America Management Corp NY’s holdings in Chesapeake Utilities were worth $303,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CPK. Versant Capital Management Inc increased its stake in shares of Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 222 shares during the last quarter. Assetmark Inc. grew its holdings in Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares during the period. nVerses Capital LLC purchased a new stake in Chesapeake Utilities in the third quarter valued at approximately $99,000. KBC Group NV increased its position in Chesapeake Utilities by 46.2% during the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 331 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Chesapeake Utilities by 64.0% during the third quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Stock Up 1.6 %

Shares of Chesapeake Utilities stock opened at $125.26 on Thursday. The company has a fifty day moving average price of $123.28 and a 200 day moving average price of $121.54. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a twelve month low of $98.25 and a twelve month high of $134.20. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 25.41 and a beta of 0.65.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.11. The business had revenue of $160.14 million during the quarter, compared to analyst estimates of $164.80 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter last year, the firm earned $0.69 earnings per share. Equities research analysts forecast that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPK has been the subject of several research reports. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Wednesday. Guggenheim boosted their price target on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $123.00.

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.