GAMMA Investing LLC Boosts Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

GAMMA Investing LLC lifted its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 64.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,038 shares of the utilities provider’s stock after purchasing an additional 405 shares during the period. GAMMA Investing LLC’s holdings in Chesapeake Utilities were worth $129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Chesapeake Utilities by 23.8% in the 4th quarter. Vanguard Group Inc. now owns 1,740,123 shares of the utilities provider’s stock worth $183,809,000 after buying an additional 334,088 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Chesapeake Utilities by 76.1% in the second quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock valued at $29,142,000 after buying an additional 118,561 shares during the period. Janus Henderson Group PLC grew its stake in shares of Chesapeake Utilities by 61.5% during the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock worth $29,529,000 after acquiring an additional 104,850 shares during the period. Jennison Associates LLC increased its holdings in Chesapeake Utilities by 28.4% in the 1st quarter. Jennison Associates LLC now owns 428,834 shares of the utilities provider’s stock worth $46,014,000 after acquiring an additional 94,980 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Chesapeake Utilities by 60.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 228,507 shares of the utilities provider’s stock valued at $24,137,000 after acquiring an additional 85,801 shares during the period. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Up 1.2 %

Shares of NYSE:CPK opened at $117.60 on Monday. The firm has a fifty day moving average price of $118.67 and a two-hundred day moving average price of $112.33. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 24.71 and a beta of 0.61. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities Co. has a one year low of $83.79 and a one year high of $125.34.

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

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Monday, September 16th. Chesapeake Utilities’s payout ratio is currently 53.78%.

Analyst Upgrades and Downgrades

Separately, Barclays increased their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th.

Insider Transactions at Chesapeake Utilities

In related 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 value of $1,094,037.04. Following the completion of the sale, the director now owns 8,363 shares in the company, valued at $949,702.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.68% of the company’s stock.

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.