Principal Financial Group Inc. Sells 22,924 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Principal Financial Group Inc. decreased its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 105,810 shares of the utilities provider's stock after selling 22,924 shares during the period. Principal Financial Group Inc. owned approximately 0.46% of Chesapeake Utilities worth $13,138,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CPK. Wilmington Savings Fund Society FSB bought a new stake in shares of Chesapeake Utilities in the 3rd quarter valued at about $182,000. Anchor Investment Management LLC grew its holdings in Chesapeake Utilities by 5.7% during the third quarter. Anchor Investment Management LLC now owns 23,473 shares of the utilities provider's stock valued at $2,915,000 after purchasing an additional 1,270 shares during the period. Geode Capital Management LLC increased its stake in Chesapeake Utilities by 1.6% in the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider's stock valued at $64,157,000 after purchasing an additional 8,358 shares in the last quarter. Barclays PLC raised its holdings in Chesapeake Utilities by 342.4% in the third quarter. Barclays PLC now owns 37,048 shares of the utilities provider's stock worth $4,600,000 after purchasing an additional 28,673 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Chesapeake Utilities during the third quarter worth $390,000. Institutional investors and hedge funds own 83.11% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays upped their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. Guggenheim increased their price target on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, StockNews.com upgraded Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $123.00.

Chesapeake Utilities Stock Down 1.1 %

NYSE CPK traded down $1.30 during trading on Friday, hitting $120.83. The stock had a trading volume of 54,236 shares, compared to its average volume of 111,900. The company has a market capitalization of $2.75 billion, a PE ratio of 24.51 and a beta of 0.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The company's 50-day moving average price is $125.17 and its two-hundred day moving average price is $118.98. Chesapeake Utilities Co. has a 12 month low of $98.25 and a 12 month high of $134.20.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be paid a $0.64 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 2.12%. Chesapeake Utilities's dividend payout ratio (DPR) is currently 51.93%.

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.