Chesapeake Utilities Co. (NYSE:CPK) Stock Position Lowered by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC decreased its position in Chesapeake Utilities Co. (NYSE:CPK) by 50.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,000 shares of the utilities provider’s stock after selling 25,000 shares during the quarter. Ghisallo Capital Management LLC owned about 0.11% of Chesapeake Utilities worth $2,655,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fortis Group Advisors LLC lifted its holdings in Chesapeake Utilities by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 146 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after buying an additional 407 shares in the last quarter. Fifth Third Bancorp grew its position in Chesapeake Utilities by 17.7% in the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after buying an additional 115 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in shares of Chesapeake Utilities by 81.8% in the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after buying an additional 450 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its position in shares of Chesapeake Utilities by 10.2% during 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 last quarter. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Down 0.7 %

Shares of CPK opened at $123.32 on Wednesday. The stock’s 50-day moving average price is $118.58 and its 200 day moving average price is $111.52. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 25.91 and a beta of 0.60. Chesapeake Utilities Co. has a 12-month low of $83.79 and a 12-month high of $125.34.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $194.70 million. Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. As a group, research analysts predict that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, September 16th. Chesapeake Utilities’s payout ratio is currently 53.78%.

Analyst Ratings Changes

Separately, 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $111.20.

Insider Activity at Chesapeake Utilities

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the transaction, the director now owns 8,363 shares of the company’s stock, valued at approximately $949,702.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.68% of the stock is currently owned by insiders.

Chesapeake Utilities Company Profile

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.