Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,957 shares of the utilities provider’s stock after selling 148 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Chesapeake Utilities were worth $359,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Chesapeake Utilities during the 3rd quarter valued at about $461,000. Intech Investment Management LLC purchased a new stake in shares of Chesapeake Utilities in the third quarter valued at approximately $481,000. Charles Schwab Investment Management Inc. grew its position in shares of Chesapeake Utilities by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 259,064 shares of the utilities provider’s stock valued at $32,168,000 after purchasing an additional 7,666 shares in the last quarter. FMR LLC lifted its position in Chesapeake Utilities by 12.7% during the third quarter. FMR LLC now owns 4,859 shares of the utilities provider’s stock worth $603,000 after buying an additional 547 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Chesapeake Utilities by 15.4% during the third quarter. Glenmede Trust Co. NA now owns 6,782 shares of the utilities provider’s stock worth $842,000 after buying an additional 904 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

Chesapeake Utilities Trading Down 0.0 %

CPK opened at $124.41 on Thursday. The stock has a market capitalization of $2.86 billion, a PE ratio of 25.23 and a beta of 0.60. Chesapeake Utilities Co. has a one year low of $98.32 and a one year high of $134.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The business’s 50 day moving average price is $124.71 and its 200 day moving average price is $123.65.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The business had revenue of $215.00 million for the quarter, compared to analysts’ expectations of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, equities research analysts expect that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.56 annualized dividend and a dividend yield of 2.06%. Chesapeake Utilities’s dividend payout ratio is currently 48.58%.

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.