Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Comerica Bank

Comerica Bank trimmed its holdings in Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 10.2% in the third quarter, Holdings Channel.com reports. The fund owned 15,043 shares of the utilities provider’s stock after selling 1,709 shares during the period. Comerica Bank’s holdings in Chesapeake Utilities were worth $1,792,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Strs Ohio raised its holdings in shares of Chesapeake Utilities by 436.5% in the 3rd quarter. Strs Ohio now owns 45,600 shares of the utilities provider’s stock worth $5,261,000 after purchasing an additional 37,100 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in shares of Chesapeake Utilities during the 3rd quarter valued at $88,000. Janney Montgomery Scott LLC boosted its stake in shares of Chesapeake Utilities by 4.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 11,643 shares of the utilities provider’s stock worth $1,344,000 after acquiring an additional 472 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Chesapeake Utilities by 22.5% in the 3rd quarter. AE Wealth Management LLC now owns 1,927 shares of the utilities provider’s stock worth $222,000 after acquiring an additional 354 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Chesapeake Utilities by 5.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 59,992 shares of the utilities provider’s stock worth $6,922,000 after purchasing an additional 3,168 shares during the period. Institutional investors own 74.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CPK shares. Wells Fargo & Company lifted their price target on Chesapeake Utilities from $110.00 to $115.00 in a research note on Wednesday, December 14th. Guggenheim cut their price target on shares of Chesapeake Utilities from $136.00 to $120.00 in a report on Monday, October 24th. Finally, StockNews.com assumed coverage on shares of Chesapeake Utilities in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Chesapeake Utilities Stock Up 0.7 %

Shares of Chesapeake Utilities stock opened at $121.44 on Friday. Chesapeake Utilities Co. has a 1 year low of $105.79 and a 1 year high of $142.81. The company has a market cap of $2.15 billion, a P/E ratio of 24.99 and a beta of 0.58. The company has a current ratio of 0.51, a quick ratio of 0.45 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $118.77 and a 200 day moving average price of $123.12.

Chesapeake Utilities (NYSE:CPKGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.21). Chesapeake Utilities had a return on equity of 10.59% and a net margin of 13.21%. The company had revenue of $131.05 million during the quarter, compared to analysts’ expectations of $126.50 million. As a group, analysts expect that Chesapeake Utilities Co. will post 4.86 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th were issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Wednesday, December 14th. Chesapeake Utilities’s dividend payout ratio is currently 44.03%.

Insider Transactions at Chesapeake Utilities

In other news, Director Lila A. Jaber acquired 421 shares of Chesapeake Utilities stock in a transaction that occurred on Monday, November 28th. The stock was purchased at an average price of $118.06 per share, with a total value of $49,703.26. Following the completion of the transaction, the director now owns 2,968 shares in the company, valued at $350,402.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.58% of the stock is currently owned by company insiders.

About Chesapeake Utilities

(Get Rating)

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula and Florida; and regulated electric distribution in northeast and northwest Florida.

Further Reading

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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