Fifth Third Bancorp Has $81,000 Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Fifth Third Bancorp increased its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 17.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 765 shares of the utilities provider’s stock after purchasing an additional 115 shares during the period. Fifth Third Bancorp’s holdings in Chesapeake Utilities were worth $81,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CPK. Wealthspire Advisors LLC increased its holdings in shares of Chesapeake Utilities by 0.3% during the 1st quarter. Wealthspire Advisors LLC now owns 29,251 shares of the utilities provider’s stock worth $3,139,000 after acquiring an additional 95 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Chesapeake Utilities by 0.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,191 shares of the utilities provider’s stock worth $1,308,000 after buying an additional 99 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Chesapeake Utilities by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 5,657 shares of the utilities provider’s stock valued at $607,000 after acquiring an additional 100 shares during the period. Tradewinds Capital Management LLC raised its holdings in Chesapeake Utilities by 10.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 100 shares during the period. Finally, Cox Capital Mgt LLC boosted its holdings in shares of Chesapeake Utilities by 1.2% during the first quarter. Cox Capital Mgt LLC now owns 10,986 shares of the utilities provider’s stock worth $1,179,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Trading Up 2.0 %

Shares of CPK stock opened at $116.88 on Monday. The stock has a market cap of $2.60 billion, a P/E ratio of 24.55 and a beta of 0.60. Chesapeake Utilities Co. has a 1 year low of $83.79 and a 1 year high of $120.84. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. The stock has a 50 day simple moving average of $112.33 and a 200 day simple moving average of $108.19.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.90% and a return on equity of 10.17%. The company had revenue of $166.30 million for the quarter, compared to the consensus estimate of $194.70 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. On average, research analysts predict that Chesapeake Utilities Co. will post 5.41 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.56 dividend on an annualized basis and a yield of 2.19%. Chesapeake Utilities’s payout ratio is 53.78%.

Insider Buying and Selling at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the completion of the sale, the director now owns 8,363 shares of the company’s stock, valued at approximately $949,702.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CPK. Wells Fargo & Company increased their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Barclays lifted their target price on Chesapeake Utilities from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Utilities currently has a consensus rating of “Hold” and an average target price of $111.20.

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.