Cynosure Group LLC Sells 416 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Cynosure Group LLC trimmed its position in Chesapeake Utilities Co. (NYSE:CPK) by 14.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,536 shares of the utilities provider’s stock after selling 416 shares during the quarter. Cynosure Group LLC’s holdings in Chesapeake Utilities were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CPK. Versant Capital Management Inc lifted its position in Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 222 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Chesapeake Utilities in the fourth quarter worth about $50,000. Smartleaf Asset Management LLC lifted its position in shares of Chesapeake Utilities by 159.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 539 shares during the last quarter. KBC Group NV lifted its position in shares of Chesapeake Utilities by 46.2% during the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 331 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Chesapeake Utilities during the 3rd quarter valued at approximately $182,000. 83.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $129.85 on Thursday. The firm’s 50-day moving average is $125.19 and its 200-day moving average is $123.94. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 26.34 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. Chesapeake Utilities Co. has a 52-week low of $98.32 and a 52-week high of $134.20.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The firm had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same period last year, the business earned $1.64 earnings per share. Equities research analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 1.97%. Chesapeake Utilities’s dividend payout ratio is currently 48.58%.

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.