Insider Selling: Chesapeake Utilities Co. (NYSE:CPK) Insider Sells $13,663.65 in Stock

Chesapeake Utilities Co. (NYSE:CPK) insider Stephen C. Thompson sold 143 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $95.55, for a total value of $13,663.65. Following the completion of the sale, the insider now owns 76,020 shares of the company’s stock, valued at $7,263,711. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CPK stock opened at $94.60 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.24 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $92.99 and its two-hundred day simple moving average is $92.32. Chesapeake Utilities Co. has a twelve month low of $77.20 and a twelve month high of $96.27. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.61 and a beta of 0.24.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). Chesapeake Utilities had a return on equity of 11.30% and a net margin of 8.62%. The business had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $169.40 million. Research analysts expect that Chesapeake Utilities Co. will post 3.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 13th will be paid a $0.405 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.62 dividend on an annualized basis and a yield of 1.71%. Chesapeake Utilities’s payout ratio is 48.94%.

CPK has been the subject of a number of analyst reports. Zacks Investment Research upgraded Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Tuesday, August 13th. ValuEngine upgraded Chesapeake Utilities from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Wells Fargo & Co restated a “hold” rating on shares of Chesapeake Utilities in a research report on Monday, June 10th. Finally, Maxim Group restated a “buy” rating and issued a $110.00 price target (up from $100.00) on shares of Chesapeake Utilities in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $98.81.

Hedge funds have recently added to or reduced their stakes in the business. Cox Capital Mgt LLC increased its stake in shares of Chesapeake Utilities by 1.7% during the second quarter. Cox Capital Mgt LLC now owns 11,136 shares of the utilities provider’s stock valued at $1,058,000 after buying an additional 182 shares during the period. Strs Ohio increased its stake in shares of Chesapeake Utilities by 6.5% during the second quarter. Strs Ohio now owns 9,800 shares of the utilities provider’s stock valued at $931,000 after buying an additional 600 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Chesapeake Utilities by 99.9% during the first quarter. BNP Paribas Arbitrage SA now owns 5,093 shares of the utilities provider’s stock valued at $465,000 after buying an additional 2,545 shares during the period. Affinity Wealth Management LLC purchased a new position in shares of Chesapeake Utilities during the first quarter valued at $264,000. Finally, GYL Financial Synergies LLC purchased a new position in shares of Chesapeake Utilities during the first quarter valued at $1,313,000. Institutional investors and hedge funds own 65.52% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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