Mutual of America Capital Management LLC Sells 2,419 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Mutual of America Capital Management LLC decreased its position in shares of Chesapeake Utilities Co. (NYSE:CPKFree Report) by 4.6% in the 1st quarter, Holdings Channel reports. The fund owned 50,311 shares of the utilities provider’s stock after selling 2,419 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Chesapeake Utilities were worth $5,398,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in CPK. SRS Capital Advisors Inc. boosted its position in Chesapeake Utilities by 308.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 286 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 216 shares during the period. GAMMA Investing LLC bought a new position in Chesapeake Utilities in the 4th quarter worth approximately $30,000. Fortis Group Advisors LLC boosted its position in shares of Chesapeake Utilities by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 292 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 146 shares during the period. Principal Securities Inc. purchased a new position in Chesapeake Utilities during the fourth quarter valued at approximately $41,000. Finally, Spirit of America Management Corp NY increased its holdings in Chesapeake Utilities by 60.0% during the 4th quarter. Spirit of America Management Corp NY now owns 400 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $107.13 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.46 and a quick ratio of 0.38. Chesapeake Utilities Co. has a one year low of $83.79 and a one year high of $124.72. The business’s 50 day simple moving average is $108.42 and its two-hundred day simple moving average is $105.34. The stock has a market capitalization of $2.39 billion, a P/E ratio of 22.51 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPKGet Free Report) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $2.10 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.04). Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The firm had revenue of $245.70 million during the quarter, compared to analysts’ expectations of $260.16 million. During the same period in the previous year, the firm earned $2.04 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts forecast that Chesapeake Utilities Co. will post 5.41 EPS for the current year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 14th were paid a $0.64 dividend. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. This represents a $2.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, June 14th. Chesapeake Utilities’s dividend payout ratio is presently 53.78%.

Analyst Upgrades and Downgrades

CPK has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Barclays assumed coverage on shares of Chesapeake Utilities in a research note on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 price objective for the company. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.80.

Check Out Our Latest Report on Chesapeake Utilities

Chesapeake Utilities Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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