FourThought Financial Partners LLC bought a new stake in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 38,167 shares of the utilities provider's stock, valued at approximately $4,632,000. FourThought Financial Partners LLC owned 0.17% of Chesapeake Utilities as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of CPK. Principal Financial Group Inc. lifted its stake in Chesapeake Utilities by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 110,442 shares of the utilities provider's stock worth $13,402,000 after purchasing an additional 4,632 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Chesapeake Utilities by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider's stock worth $767,000 after buying an additional 246 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Chesapeake Utilities by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the utilities provider's stock worth $1,335,000 after buying an additional 100 shares in the last quarter. Wealthcare Capital Partners LLC acquired a new stake in Chesapeake Utilities in the fourth quarter valued at about $542,000. Finally, State of Alaska Department of Revenue grew its position in Chesapeake Utilities by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 12,947 shares of the utilities provider's stock valued at $1,571,000 after acquiring an additional 135 shares during the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently commented on CPK. Guggenheim increased their target price on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. StockNews.com downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $123.00.
Read Our Latest Stock Analysis on CPK
Chesapeake Utilities Trading Up 0.3 %
Shares of CPK stock traded up $0.32 during mid-day trading on Friday, reaching $126.70. 126,760 shares of the stock traded hands, compared to its average volume of 80,550. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 25.70 and a beta of 0.65. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The stock's fifty day simple moving average is $122.10 and its two-hundred day simple moving average is $122.26. Chesapeake Utilities Co. has a 1-year low of $98.32 and a 1-year high of $134.20.
Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.04). The business 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 quarter in the prior year, the business earned $1.64 earnings per share. On average, research analysts anticipate that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.
Chesapeake Utilities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities's dividend payout ratio is currently 51.93%.
About Chesapeake Utilities
(
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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