Legacy Wealth Management LLC MS Has $1.60 Million Position in Chesapeake Utilities Co. (NYSE:CPK)

Legacy Wealth Management LLC MS lowered its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 28.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,470 shares of the utilities provider’s stock after selling 4,860 shares during the period. Legacy Wealth Management LLC MS owned about 0.05% of Chesapeake Utilities worth $1,602,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its position in shares of Chesapeake Utilities by 5.5% during the fourth quarter. Barclays PLC now owns 39,078 shares of the utilities provider’s stock worth $4,742,000 after buying an additional 2,030 shares during the period. Arizona State Retirement System boosted its stake in Chesapeake Utilities by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock valued at $791,000 after purchasing an additional 103 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Chesapeake Utilities by 4.0% during the fourth quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider’s stock valued at $767,000 after buying an additional 246 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Chesapeake Utilities in the 4th quarter worth $5,110,000. Finally, Natixis Advisors LLC bought a new stake in Chesapeake Utilities in the 4th quarter worth about $1,216,000. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Trading Down 2.0%

NYSE CPK opened at $120.50 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $2.81 billion, a PE ratio of 24.44 and a beta of 0.71. The stock’s 50 day moving average is $128.19 and its 200 day moving average is $126.00. Chesapeake Utilities Co. has a twelve month low of $102.64 and a twelve month high of $136.73.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.06). The company had revenue of $298.70 million during the quarter, compared to the consensus estimate of $248.45 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 earnings per share. Research analysts forecast that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be given a dividend of $0.685 per share. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.64. The ex-dividend date is Monday, June 16th. This represents a $2.74 dividend on an annualized basis and a yield of 2.27%. Chesapeake Utilities’s dividend payout ratio is 50.65%.

Analyst Ratings Changes

CPK has been the subject of several research analyst reports. Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a report on Friday, May 9th. Finally, Barclays decreased their price target on Chesapeake Utilities from $125.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 29th.

Chesapeake Utilities 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.