Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can trimmed its holdings in shares of Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,141 shares of the utilities provider’s stock after selling 231 shares during the quarter. Great West Life Assurance Co. Can owned 0.16% of Chesapeake Utilities worth $3,245,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CPK. Assetmark Inc. grew its position in Chesapeake Utilities by 100.0% in the 2nd quarter. Assetmark Inc. now owns 600 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 300 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in Chesapeake Utilities in the 3rd quarter valued at about $88,000. First Horizon Advisors Inc. grew its position in Chesapeake Utilities by 1,370.3% in the 2nd 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in Chesapeake Utilities in the 2nd quarter valued at about $142,000. Finally, LS Investment Advisors LLC acquired a new position in Chesapeake Utilities in the 2nd quarter valued at about $150,000. 74.23% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $122.86 on Wednesday. The stock has a 50-day simple moving average of $119.21 and a 200-day simple moving average of $123.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.45 and a current ratio of 0.51. The stock has a market capitalization of $2.18 billion, a PE ratio of 25.28 and a beta of 0.58. Chesapeake Utilities Co. has a 1 year low of $105.79 and a 1 year high of $142.81.

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

Chesapeake Utilities Announces Dividend

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 dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, December 14th. Chesapeake Utilities’s payout ratio is 44.03%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com initiated coverage on Chesapeake Utilities in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Guggenheim decreased their price objective on Chesapeake Utilities from $136.00 to $120.00 in a research note on Monday, October 24th. Finally, Wells Fargo & Company lifted their price objective on Chesapeake Utilities from $110.00 to $115.00 in a research note on Wednesday, December 14th.

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.

See Also

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

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