Wealth Enhancement Advisory Services LLC Buys 466 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,243 shares of the utilities provider’s stock after buying an additional 466 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Chesapeake Utilities were worth $527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Chesapeake Utilities by 180.1% in the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 407 shares in the last quarter. Fifth Third Bancorp boosted 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 purchasing an additional 115 shares during the last quarter. nVerses Capital LLC bought a new stake in Chesapeake Utilities in the 3rd quarter worth about $99,000. Spirit of America Management Corp NY increased its stake in Chesapeake Utilities by 81.8% in 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 during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Chesapeake Utilities by 504.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,379 shares of the utilities provider’s stock worth $146,000 after buying an additional 1,151 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chesapeake Utilities

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the completion of the transaction, the director now owns 8,363 shares in the company, valued at $949,702.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.66% of the stock is currently owned by company insiders.

Chesapeake Utilities Stock Up 2.6 %

Chesapeake Utilities stock opened at $124.63 on Friday. The firm has a 50 day moving average price of $120.86 and a 200-day moving average price of $114.61. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. Chesapeake Utilities Co. has a twelve month low of $83.79 and a twelve month high of $128.13. The company has a market capitalization of $2.80 billion, a P/E ratio of 26.63 and a beta of 0.61.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The firm had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $194.70 million. During the same period in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts predict that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 54.70%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CPK shares. Barclays upped their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday.

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.