Envestnet Asset Management Inc. Has $14.56 Million Stock Position in Chesapeake Utilities Corporation (NYSE:CPK)

Envestnet Asset Management Inc. grew its position in Chesapeake Utilities Corporation (NYSE:CPK) by 3.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 113,374 shares of the utilities provider’s stock after acquiring an additional 3,901 shares during the period. Envestnet Asset Management Inc.’s holdings in Chesapeake Utilities were worth $14,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Chesapeake Utilities by 5.5% in the 4th quarter. Barclays PLC now owns 39,078 shares of the utilities provider’s stock worth $4,742,000 after purchasing an additional 2,030 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Chesapeake Utilities by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 113,431 shares of the utilities provider’s stock valued at $14,568,000 after purchasing an additional 2,989 shares during the period. Spire Wealth Management bought a new stake in shares of Chesapeake Utilities in the 1st quarter valued at about $26,000. Fifth Third Bancorp raised its holdings in shares of Chesapeake Utilities by 28.8% in the 1st quarter. Fifth Third Bancorp now owns 864 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 193 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Chesapeake Utilities in the 4th quarter valued at about $5,110,000. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance

NYSE CPK opened at $122.04 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 22.56 and a beta of 0.65. The firm’s 50 day simple moving average is $121.49 and its 200 day simple moving average is $124.63. Chesapeake Utilities Corporation has a 1 year low of $111.00 and a 1 year high of $136.73.

Chesapeake Utilities (NYSE:CPK) last posted 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). The firm had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. The business’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.10 EPS. As a group, research analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were given a dividend of $0.685 per share. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, June 16th. This represents a $2.74 annualized dividend and a dividend yield of 2.25%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 50.65%.

Analyst Upgrades and Downgrades

CPK has been the topic of several recent research reports. Wall Street Zen cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Barclays lowered their target price 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. Finally, LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a report on Friday, May 9th.

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.