Geode Capital Management LLC Increases Stake in Chesapeake Utilities Co. (NYSE:CPK)

Geode Capital Management LLC raised its stake in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516,586 shares of the utilities provider's stock after purchasing an additional 8,358 shares during the period. Geode Capital Management LLC owned 2.27% of Chesapeake Utilities worth $64,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in shares of Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider's stock worth $79,000 after purchasing an additional 102 shares during the period. Fifth Third Bancorp boosted its stake in shares of Chesapeake Utilities by 17.7% during the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider's stock valued at $81,000 after purchasing an additional 115 shares in the last quarter. nVerses Capital LLC bought a new position in Chesapeake Utilities in the third quarter worth approximately $99,000. GAMMA Investing LLC lifted its stake in shares of Chesapeake Utilities by 64.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider's stock worth $129,000 after purchasing an additional 405 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Chesapeake Utilities by 504.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,379 shares of the utilities provider's stock valued at $146,000 after buying an additional 1,151 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Price Performance

Shares of CPK traded up $1.16 during mid-day trading on Friday, hitting $119.56. 363,318 shares of the company were exchanged, compared to its average volume of 112,795. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 24.25 and a beta of 0.64. Chesapeake Utilities Co. has a 1-year low of $98.25 and a 1-year high of $134.20. The company has a 50 day moving average of $125.19 and a 200-day moving average of $118.53. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities's dividend payout ratio (DPR) is currently 51.93%.

Analyst Ratings Changes

CPK has been the subject of a number of recent analyst reports. Guggenheim raised their price objective on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Barclays boosted their price target on Chesapeake Utilities from $118.00 to $124.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Finally, StockNews.com upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $123.00.

About Chesapeake Utilities

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.