Texas Permanent School Fund Corp Sells 2,819 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Texas Permanent School Fund Corp lowered its position in Chesapeake Utilities Co. (NYSE:CPK) by 14.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,641 shares of the utilities provider’s stock after selling 2,819 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Chesapeake Utilities worth $1,767,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CPK. Fortis Group Advisors LLC increased its position in Chesapeake Utilities by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock valued at $31,000 after buying an additional 146 shares in the last quarter. Principal Securities Inc. bought a new position in Chesapeake Utilities during the 4th quarter valued at approximately $41,000. GAMMA Investing LLC increased its position in Chesapeake Utilities by 180.1% during the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after buying an additional 407 shares in the last quarter. Fifth Third Bancorp increased its position in Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after buying an additional 115 shares in the last quarter. Finally, Spirit of America Management Corp NY increased its position in Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after buying an additional 450 shares in the last quarter. Institutional investors own 83.11% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays raised their price objective on Chesapeake Utilities from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $111.20.

Insider Buying and Selling at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $113.56, for a total value of $1,094,037.04. Following the transaction, the director now directly owns 8,363 shares in the company, valued at approximately $949,702.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.68% of the company’s stock.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $122.67 on Thursday. The business’s fifty day simple moving average is $116.94 and its two-hundred day simple moving average is $110.16. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.91. Chesapeake Utilities Co. has a 12 month low of $83.79 and a 12 month high of $125.34. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 25.77 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The business had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $194.70 million. During the same quarter in the prior year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Research analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.56 annualized dividend and a yield of 2.09%. Chesapeake Utilities’s dividend payout ratio is 53.78%.

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.