Squarepoint Ops LLC Boosts Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Squarepoint Ops LLC lifted its position in Chesapeake Utilities Co. (NYSE:CPK) by 409.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,580 shares of the utilities provider’s stock after purchasing an additional 10,914 shares during the quarter. Squarepoint Ops LLC owned about 0.06% of Chesapeake Utilities worth $1,442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthspire Advisors LLC boosted its holdings in Chesapeake Utilities by 0.3% in the first quarter. Wealthspire Advisors LLC now owns 29,251 shares of the utilities provider’s stock valued at $3,139,000 after purchasing an additional 95 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Chesapeake Utilities by 0.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 12,191 shares of the utilities provider’s stock valued at $1,308,000 after buying an additional 99 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Chesapeake Utilities by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 5,657 shares of the utilities provider’s stock valued at $607,000 after buying an additional 100 shares during the period. Tradewinds Capital Management LLC boosted its stake in shares of Chesapeake Utilities by 10.2% in the first quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock worth $116,000 after buying an additional 100 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Chesapeake Utilities by 17.7% during the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays boosted their price target on Chesapeake Utilities from $111.00 to $118.00 and gave the company an “equal weight” rating in a 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $111.20.

Insider Transactions at Chesapeake Utilities

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of Chesapeake Utilities stock in a transaction dated 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 sale, the director now directly owns 8,363 shares in the company, valued at approximately $949,702.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.68% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $122.59 on Friday. The firm has a market cap of $2.73 billion, a PE ratio of 25.75 and a beta of 0.61. Chesapeake Utilities Co. has a twelve month low of $83.79 and a twelve month high of $125.34. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $118.78 and a 200 day moving average price of $111.79.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $194.70 million. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Sell-side analysts predict that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be given a $0.64 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.09%. Chesapeake Utilities’s dividend payout ratio (DPR) 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.