Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 3.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,781 shares of the utilities provider’s stock after selling 660 shares during the period. BNP Paribas Financial Markets’ holdings in Chesapeake Utilities were worth $1,878,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in shares of Chesapeake Utilities during the 4th quarter worth about $35,265,000. Synergy Asset Management LLC purchased a new position in Chesapeake Utilities in the fourth quarter valued at approximately $14,227,000. Peregrine Capital Management LLC acquired a new stake in Chesapeake Utilities during the fourth quarter worth approximately $5,755,000. Wedge Capital Management L L P NC purchased a new stake in shares of Chesapeake Utilities during the 4th quarter worth approximately $4,748,000. Finally, Strs Ohio boosted its holdings in shares of Chesapeake Utilities by 83.7% in the 4th quarter. Strs Ohio now owns 81,200 shares of the utilities provider’s stock valued at $8,577,000 after buying an additional 37,000 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Up 0.6 %

CPK opened at $108.36 on Friday. Chesapeake Utilities Co. has a 52 week low of $83.79 and a 52 week high of $132.91. The business has a 50 day moving average price of $106.61 and a two-hundred day moving average price of $102.99. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.93. The company has a market cap of $2.41 billion, a PE ratio of 22.76 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.04). Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The company had revenue of $245.70 million for the quarter, compared to analysts’ expectations of $260.16 million. During the same quarter last year, the company earned $2.04 EPS. Chesapeake Utilities’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts anticipate that Chesapeake Utilities Co. will post 5.41 EPS for the current year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be issued a $0.64 dividend. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.56 annualized dividend and a dividend yield of 2.36%. Chesapeake Utilities’s payout ratio is presently 49.58%.

Analysts Set New Price Targets

CPK has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Wells Fargo & Company boosted their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, StockNews.com downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $109.50.

About Chesapeake Utilities

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.