Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 4.8% during the fourth quarter, Holdings Channel reports. The firm 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.

Several other hedge funds have also made changes to their positions in the business. Versant Capital Management Inc increased its stake in Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after buying an additional 222 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Chesapeake Utilities by 159.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 539 shares during the period. KBC Group NV increased its position in shares of Chesapeake Utilities by 46.2% during the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 331 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Chesapeake Utilities in the third quarter valued at $182,000. Finally, Spirit of America Management Corp NY boosted its holdings in Chesapeake Utilities by 66.7% in the fourth quarter. Spirit of America Management Corp NY now owns 2,500 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $124.41 on Thursday. The stock has a market cap of $2.86 billion, a P/E ratio of 25.23 and a beta of 0.60. The company has a fifty day simple moving average of $124.71 and a 200-day simple moving average of $123.65. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 12-month low of $98.32 and a 12-month high of $134.20.

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

Chesapeake Utilities Dividend Announcement

The business also recently announced 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. This represents a $2.56 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities’s payout ratio is 48.58%.

Analyst Ratings Changes

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

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.