Chesapeake Utilities Co. (NYSE:CPK) Stock Position Trimmed by Fruth Investment Management


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Fruth Investment Management cut its position in Chesapeake Utilities Co. (NYSE:CPK) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,977 shares of the utilities provider’s stock after selling 437 shares during the quarter. Fruth Investment Management’s holdings in Chesapeake Utilities were worth $2,378,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Private Advisor Group LLC bought a new stake in Chesapeake Utilities during the 2nd quarter worth about $26,000. AJO LP bought a new position in shares of Chesapeake Utilities in the 3rd quarter valued at $41,000. Captrust Financial Advisors bought a new stake in Chesapeake Utilities during the 2nd quarter worth $64,000. Great West Life Assurance Co. Can grew its holdings in shares of Chesapeake Utilities by 4.1% during the third quarter. Great West Life Assurance Co. Can now owns 9,304 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 369 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Chesapeake Utilities during the third quarter worth about $109,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

CPK stock traded up $1.92 during trading on Wednesday, hitting $104.03. The company had a trading volume of 2,082 shares, compared to its average volume of 92,391. The business has a 50-day moving average of $105.72 and a 200-day moving average of $91.94. Chesapeake Utilities Co. has a one year low of $69.47 and a one year high of $111.40. The stock has a market cap of $1.82 billion, a PE ratio of 23.47 and a beta of 0.25. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.84.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.14. The firm had revenue of $101.42 million for the quarter, compared to analysts’ expectations of $136.80 million. Chesapeake Utilities had a return on equity of 11.14% and a net margin of 14.84%. Research analysts forecast that Chesapeake Utilities Co. will post 4.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, December 14th. Chesapeake Utilities’s payout ratio is 48.09%.

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,750 shares of the stock in a transaction that occurred on Monday, December 21st. The stock was sold at an average price of $102.67, for a total transaction of $282,342.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 7,750 shares of company stock worth $772,343 over the last 90 days. Company insiders own 3.14% of the company’s stock.

Several research firms have recently weighed in on CPK. BidaskClub cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, December 23rd. Wells Fargo & Company cut Chesapeake Utilities from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $93.00 to $96.00 in a report on Wednesday, January 6th. Maxim Group boosted their price target on Chesapeake Utilities from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, November 20th. Finally, Zacks Investment Research cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Monday, January 4th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Chesapeake Utilities has a consensus rating of “Hold” and an average target price of $106.20.

Chesapeake Utilities Profile

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The Regulated Energy segment engages in the distribution of natural gas in central and southern Delaware, Maryland's eastern shore, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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