New Age Alpha Advisors LLC Buys New Position in Chesapeake Utilities Corporation (NYSE:CPK)

New Age Alpha Advisors LLC bought a new stake in Chesapeake Utilities Corporation (NYSE:CPK) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 663 shares of the utilities provider’s stock, valued at approximately $85,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Chesapeake Utilities by 50.7% during the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 106 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Chesapeake Utilities by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,313 shares of the utilities provider’s stock worth $281,000 after acquiring an additional 109 shares during the period. AGP Franklin LLC lifted its holdings in Chesapeake Utilities by 3.4% during the 1st quarter. AGP Franklin LLC now owns 4,124 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 136 shares during the last quarter. Byrne Asset Management LLC lifted its holdings in Chesapeake Utilities by 114.3% during the 1st quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 144 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Chesapeake Utilities by 3.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,396 shares of the utilities provider’s stock worth $533,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CPK shares. Barclays dropped their price target on Chesapeake Utilities from $124.00 to $120.00 and set an “equal weight” rating for the company in a report on Tuesday, July 22nd. Wall Street Zen cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, LADENBURG THALM/SH SH raised Chesapeake Utilities to a “strong-buy” rating in a report on Friday, May 9th.

Chesapeake Utilities Price Performance

Shares of NYSE CPK opened at $123.90 on Tuesday. The stock has a market capitalization of $2.92 billion, a PE ratio of 22.09 and a beta of 0.66. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36. The business has a fifty day moving average price of $121.36 and a two-hundred day moving average price of $124.78. Chesapeake Utilities Corporation has a fifty-two week low of $112.92 and a fifty-two week high of $136.73.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. As a group, equities analysts predict that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be issued a $0.685 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.74 annualized dividend and a yield of 2.2%. Chesapeake Utilities’s payout ratio is currently 48.84%.

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.