SG Americas Securities LLC Lowers Position in Chesapeake Utilities Co. (NYSE:CPK)

SG Americas Securities LLC lessened its holdings in Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 3.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,920 shares of the utilities provider’s stock after selling 172 shares during the period. SG Americas Securities LLC’s holdings in Chesapeake Utilities were worth $568,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its stake in Chesapeake Utilities by 100.0% in the second quarter. Assetmark Inc. now owns 600 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 300 shares during the last quarter. Wipfli Financial Advisors LLC bought a new position in Chesapeake Utilities in the third quarter valued at $88,000. First Horizon Advisors Inc. increased its stake in Chesapeake Utilities by 1,370.3% in the second quarter. First Horizon Advisors Inc. now owns 1,088 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 1,014 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Chesapeake Utilities in the second quarter valued at $142,000. Finally, LS Investment Advisors LLC bought a new position in Chesapeake Utilities in the second quarter valued at $150,000. Institutional investors own 74.23% of the company’s stock.

Chesapeake Utilities Stock Down 0.3 %

Shares of NYSE:CPK opened at $121.03 on Tuesday. The stock’s 50-day moving average price is $118.98 and its 200-day moving average price is $123.03. Chesapeake Utilities Co. has a 12-month low of $105.79 and a 12-month high of $142.81. The stock has a market capitalization of $2.15 billion, a P/E ratio of 24.90 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.

Chesapeake Utilities (NYSE:CPKGet Rating) last announced its quarterly earnings data 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 net margin of 13.21% and a return on equity of 10.59%. The company had revenue of $131.05 million for the quarter, compared to the consensus estimate of $126.50 million. On average, equities analysts anticipate that Chesapeake Utilities Co. will post 4.86 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 15th were paid a $0.535 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $2.14 annualized dividend and a dividend yield of 1.77%. Chesapeake Utilities’s payout ratio is presently 44.03%.

Analysts Set New Price Targets

A number of research analysts recently commented on CPK shares. StockNews.com started coverage on Chesapeake Utilities in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company raised their price objective on Chesapeake Utilities from $110.00 to $115.00 in a research note on Wednesday, December 14th. Finally, Guggenheim reduced their price objective on Chesapeake Utilities from $136.00 to $120.00 in a research note on Monday, October 24th.

Insider Buying and Selling

In other Chesapeake Utilities news, Director Lila A. Jaber bought 421 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were bought at an average cost of $118.06 per share, with a total value of $49,703.26. Following the completion of the purchase, the director now directly owns 2,968 shares of the company’s stock, valued at $350,402.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.58% of the stock is owned by insiders.

Chesapeake Utilities Profile

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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.

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

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