Renaissance Technologies LLC raised its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 5.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 232,450 shares of the utilities provider’s stock after buying an additional 11,450 shares during the period. Renaissance Technologies LLC owned 1.42% of Chesapeake Utilities Corporation worth $16,086,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in Chesapeake Utilities Corporation during the first quarter worth $204,000. Hennessy Advisors Inc. boosted its stake in Chesapeake Utilities Corporation by 1.7% in the first quarter. Hennessy Advisors Inc. now owns 104,908 shares of the utilities provider’s stock worth $7,260,000 after buying an additional 1,750 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Chesapeake Utilities Corporation by 71.5% in the first quarter. Russell Investments Group Ltd. now owns 56,645 shares of the utilities provider’s stock worth $3,918,000 after buying an additional 23,622 shares in the last quarter. Sapphire Star Partners LP boosted its stake in Chesapeake Utilities Corporation by 8.7% in the first quarter. Sapphire Star Partners LP now owns 5,029 shares of the utilities provider’s stock worth $348,000 after buying an additional 404 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Chesapeake Utilities Corporation by 17.1% in the first quarter. ProShare Advisors LLC now owns 106,952 shares of the utilities provider’s stock worth $7,401,000 after buying an additional 15,619 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.
Shares of Chesapeake Utilities Corporation (NYSE:CPK) opened at 76.05 on Wednesday. The stock’s 50 day moving average price is $74.34 and its 200-day moving average price is $69.63. Chesapeake Utilities Corporation has a 52-week low of $57.63 and a 52-week high of $77.75. The firm has a market cap of $1.24 billion, a PE ratio of 27.81 and a beta of 0.27.
Chesapeake Utilities Corporation (NYSE:CPK) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by $0.29. The firm had revenue of $185.20 million during the quarter, compared to analysts’ expectations of $159.70 million. Chesapeake Utilities Corporation had a net margin of 8.08% and a return on equity of 10.08%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 earnings per share. On average, equities research analysts anticipate that Chesapeake Utilities Corporation will post $2.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Thursday, June 15th were given a dividend of $0.325 per share. This is a boost from Chesapeake Utilities Corporation’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.30 annualized dividend and a dividend yield of 1.71%. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is presently 47.97%.
A number of research firms have weighed in on CPK. BidaskClub cut Chesapeake Utilities Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada began coverage on Chesapeake Utilities Corporation in a research note on Wednesday, April 26th. They issued a “sector perform” rating and a $75.00 price target on the stock. Finally, Zacks Investment Research cut Chesapeake Utilities Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $72.00.
In other news, insider John R. Schimkaitis sold 6,375 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $72.00, for a total transaction of $459,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Elaine B. Bittner sold 700 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $72.00, for a total transaction of $50,400.00. The disclosure for this sale can be found here. Insiders have sold 12,575 shares of company stock worth $919,480 in the last ninety days. Corporate insiders own 5.36% of the company’s stock.
Chesapeake Utilities Corporation Company Profile
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.
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