Wealth Enhancement Advisory Services LLC Sells 87 Shares of Chesapeake Utilities Corporation (NYSE:CPK)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,309 shares of the utilities provider’s stock after selling 87 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Chesapeake Utilities were worth $553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its position in 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 acquiring an additional 2,030 shares during the period. Arizona State Retirement System increased its position in Chesapeake Utilities by 1.6% during the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock worth $791,000 after acquiring an additional 103 shares during the period. Raymond James Financial Inc. bought a new position in Chesapeake Utilities during the fourth quarter worth $5,110,000. Fifth Third Bancorp increased its position in Chesapeake Utilities by 28.8% during the first quarter. Fifth Third Bancorp now owns 864 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 193 shares during the period. Finally, SG Americas Securities LLC bought a new position in Chesapeake Utilities during the first quarter worth $512,000. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Up 1.0%

Shares of Chesapeake Utilities stock opened at $123.03 on Friday. The firm has a market capitalization of $2.87 billion, a PE ratio of 22.74 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.46 and a quick ratio of 0.40. The company’s fifty day moving average price is $123.31 and its two-hundred day moving average price is $124.49. Chesapeake Utilities Corporation has a 52-week low of $105.79 and a 52-week high of $136.73.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a net margin of 14.69% and a return on equity of 9.19%. The business had revenue of $298.70 million during the quarter, compared to the consensus estimate of $248.45 million. During the same period last year, the firm earned $2.10 EPS. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be paid a $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, June 16th. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.64. Chesapeake Utilities’s payout ratio is currently 50.65%.

Wall Street Analysts Forecast Growth

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

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.