Harbor Capital Advisors Inc. Boosts Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Harbor Capital Advisors Inc. boosted its stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 151.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,942 shares of the utilities provider's stock after purchasing an additional 8,391 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.06% of Chesapeake Utilities worth $1,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPK. GAMMA Investing LLC boosted its position in shares of Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider's stock valued at $67,000 after buying an additional 407 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 during the period. nVerses Capital LLC purchased a new position in Chesapeake Utilities in the 3rd quarter worth about $99,000. Spirit of America Management Corp NY lifted its holdings in Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider's stock valued at $106,000 after buying an additional 450 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Chesapeake Utilities by 504.8% during the 2nd 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 in the last quarter. 83.11% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of Chesapeake Utilities stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the sale, the director now directly owns 8,363 shares in the company, valued at $949,702.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.66% of the company's stock.

Chesapeake Utilities Stock Up 3.9 %

CPK stock traded up $4.71 during trading on Wednesday, hitting $124.58. 173,702 shares of the company's stock traded hands, compared to its average volume of 113,554. The firm has a market capitalization of $2.80 billion, a P/E ratio of 25.62 and a beta of 0.61. Chesapeake Utilities Co. has a 1 year low of $83.79 and a 1 year high of $126.36. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $120.50 and a two-hundred day simple moving average of $114.35.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The company had revenue of $166.30 million during the quarter, compared to analysts' expectations of $194.70 million. During the same quarter last year, the firm earned $0.90 EPS. Chesapeake Utilities's revenue for the quarter was up 22.6% on a year-over-year basis. Sell-side analysts anticipate that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, September 16th. Chesapeake Utilities's payout ratio is presently 54.70%.

Wall Street Analyst Weigh In

Separately, Barclays upped their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th.

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.