AlphaMark Advisors LLC Purchases New Stake in Chesapeake Utilities Co. (NYSE:CPK)

AlphaMark Advisors LLC acquired a new position in Chesapeake Utilities Co. (NYSE:CPK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,802 shares of the utilities provider’s stock, valued at approximately $348,000.

Several other institutional investors have also recently added to or reduced their stakes in CPK. Goldman Sachs Group Inc. raised its position in shares of Chesapeake Utilities by 60.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 228,507 shares of the utilities provider’s stock worth $24,137,000 after purchasing an additional 85,801 shares during the period. Vanguard Group Inc. lifted its stake in Chesapeake Utilities by 23.8% in the fourth quarter. Vanguard Group Inc. now owns 1,740,123 shares of the utilities provider’s stock valued at $183,809,000 after buying an additional 334,088 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Chesapeake Utilities by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,497 shares of the utilities provider’s stock valued at $1,743,000 after acquiring an additional 155 shares during the period. Hennessy Advisors Inc. grew its position in shares of Chesapeake Utilities by 17.4% during the first quarter. Hennessy Advisors Inc. now owns 26,258 shares of the utilities provider’s stock worth $2,817,000 after acquiring an additional 3,900 shares during the last quarter. Finally, Tributary Capital Management LLC increased its holdings in shares of Chesapeake Utilities by 8.9% in the 1st quarter. Tributary Capital Management LLC now owns 133,259 shares of the utilities provider’s stock worth $14,299,000 after acquiring an additional 10,937 shares during the period. Institutional investors own 83.11% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 8,363 shares of the company’s stock, valued at approximately $949,702.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $122.27 on Friday. The company has a 50-day moving average of $119.33 and a two-hundred day moving average of $112.75. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 25.69 and a beta of 0.61. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities Co. has a one year low of $83.79 and a one year high of $125.34.

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

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were paid a $0.64 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.56 dividend on an annualized basis and a yield of 2.09%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 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.