Tradewinds Capital Management LLC Grows Position in Chesapeake Utilities Co. (CPK)

Tradewinds Capital Management LLC increased its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 80.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 450 shares of the utilities provider’s stock after buying an additional 200 shares during the quarter. Tradewinds Capital Management LLC’s holdings in Chesapeake Utilities were worth $41,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CPK. BlackRock Inc. grew its stake in Chesapeake Utilities by 29.2% during the 3rd quarter. BlackRock Inc. now owns 1,544,049 shares of the utilities provider’s stock worth $129,545,000 after buying an additional 348,733 shares during the last quarter. BTIM Corp. purchased a new position in Chesapeake Utilities during the 4th quarter worth approximately $12,969,000. Millennium Management LLC grew its stake in Chesapeake Utilities by 517.8% during the 4th quarter. Millennium Management LLC now owns 66,381 shares of the utilities provider’s stock worth $5,397,000 after buying an additional 55,637 shares during the last quarter. FMR LLC purchased a new position in Chesapeake Utilities during the 3rd quarter worth approximately $4,502,000. Finally, Vanguard Group Inc grew its stake in Chesapeake Utilities by 3.8% during the 3rd quarter. Vanguard Group Inc now owns 929,001 shares of the utilities provider’s stock worth $77,943,000 after buying an additional 34,124 shares during the last quarter. Hedge funds and other institutional investors own 64.56% of the company’s stock.

Shares of NYSE:CPK traded up $0.76 during midday trading on Tuesday, reaching $91.11. The company’s stock had a trading volume of 26,711 shares, compared to its average volume of 51,640. The company has a market cap of $1.48 billion, a P/E ratio of 27.53, a P/E/G ratio of 4.11 and a beta of 0.26. The company has a quick ratio of 0.33, a current ratio of 0.36 and a debt-to-equity ratio of 0.61. Chesapeake Utilities Co. has a 1 year low of $73.55 and a 1 year high of $94.87.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Tuesday, February 26th. The utilities provider reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.12). Chesapeake Utilities had a return on equity of 10.67% and a net margin of 7.89%. The company had revenue of $201.19 million for the quarter, compared to analyst estimates of $185.70 million. Sell-side analysts expect that Chesapeake Utilities Co. will post 3.67 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, March 14th. Chesapeake Utilities’s dividend payout ratio is currently 44.71%.

A number of analysts have weighed in on the company. Maxim Group set a $100.00 price objective on Chesapeake Utilities and gave the stock a “buy cpk” rating in a research report on Monday, December 24th. Wells Fargo & Co increased their price objective on Chesapeake Utilities from $84.00 to $90.00 and gave the stock a “market perform” rating in a research report on Monday, March 4th. Finally, Zacks Investment Research cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Monday, January 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $93.31.

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About Chesapeake Utilities

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

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