Trust Point Inc. Purchases 153 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Trust Point Inc. increased its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,919 shares of the utilities provider’s stock after buying an additional 153 shares during the quarter. Trust Point Inc.’s holdings in Chesapeake Utilities were worth $611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Chesapeake Utilities by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock valued at $199,471,000 after purchasing an additional 118,878 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Chesapeake Utilities by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock worth $51,979,000 after acquiring an additional 19,100 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Chesapeake Utilities by 28.4% during the first 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 period. Janus Henderson Group PLC raised its stake in shares of Chesapeake Utilities by 61.5% in the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock valued at $29,529,000 after purchasing an additional 104,850 shares during the period. Finally, Boston Trust Walden Corp lifted its holdings 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 purchasing an additional 118,561 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Stock Up 0.4 %

Shares of CPK stock opened at $122.27 on Friday. The firm’s fifty day moving average price is $119.33 and its two-hundred day moving average price is $112.75. Chesapeake Utilities Co. has a 1 year low of $83.79 and a 1 year high of $125.34. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $2.72 billion, a P/E ratio of 25.69 and a beta of 0.61.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. During the same period in the prior year, the firm posted $0.90 EPS. Chesapeake Utilities’s revenue was up 22.6% compared to the same quarter last year. On average, equities analysts predict 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 given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, September 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 53.78%.

Analysts Set New Price Targets

Separately, Barclays boosted their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th.

Insider Transactions at Chesapeake Utilities

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were 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 directly owns 8,363 shares in the company, valued at approximately $949,702.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.68% of the stock is owned by company insiders.

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.