Chesapeake Utilities Corporation (CPK) Position Reduced by Prudential Financial Inc.
Prudential Financial Inc. lessened its stake in Chesapeake Utilities Corporation (NYSE:CPK) by 68.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,599 shares of the utilities provider’s stock after selling 26,880 shares during the period. Prudential Financial Inc. owned 0.08% of Chesapeake Utilities Corporation worth $944,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Chesapeake Utilities Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,663 shares of the utilities provider’s stock worth $200,000 after buying an additional 398 shares during the period. William Blair Investment Management LLC increased its stake in Chesapeake Utilities Corporation by 21.9% in the 2nd quarter. William Blair Investment Management LLC now owns 288,803 shares of the utilities provider’s stock worth $21,646,000 after buying an additional 51,898 shares during the period. BNP Paribas Arbitrage SA increased its stake in Chesapeake Utilities Corporation by 75.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,809 shares of the utilities provider’s stock worth $360,000 after buying an additional 2,065 shares during the period. Legal & General Group Plc increased its stake in Chesapeake Utilities Corporation by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 3,865 shares of the utilities provider’s stock worth $290,000 after buying an additional 90 shares during the period. Finally, Rhumbline Advisers increased its stake in Chesapeake Utilities Corporation by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 19,125 shares of the utilities provider’s stock worth $1,433,000 after buying an additional 202 shares during the period. 61.33% of the stock is currently owned by institutional investors.
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Chesapeake Utilities Corporation (NYSE:CPK) opened at 78.70 on Friday. Chesapeake Utilities Corporation has a one year low of $58.00 and a one year high of $81.95. The firm’s 50-day moving average is $79.26 and its 200 day moving average is $75.40. The company has a market capitalization of $1.29 billion, a PE ratio of 30.60 and a beta of 0.27.
Chesapeake Utilities Corporation (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.18). The business had revenue of $125.08 million for the quarter, compared to analysts’ expectations of $116.50 million. Chesapeake Utilities Corporation had a return on equity of 9.18% and a net margin of 7.40%. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities analysts expect that Chesapeake Utilities Corporation will post $2.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were paid a dividend of $0.325 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.30 dividend on an annualized basis and a yield of 1.65%. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is presently 50.78%.
Separately, BidaskClub downgraded shares of Chesapeake Utilities Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.00.
Chesapeake Utilities Corporation 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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