Intech Investment Management LLC bought a new position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,875 shares of the utilities provider's stock, valued at approximately $481,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. boosted its position in 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 lifted its position in shares of Chesapeake Utilities by 17.7% in the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider's stock valued at $81,000 after acquiring an additional 115 shares in the last quarter. Creative Planning raised its holdings in shares of Chesapeake Utilities by 1.8% during the 3rd quarter. Creative Planning now owns 7,706 shares of the utilities provider's stock valued at $957,000 after purchasing an additional 135 shares in the last quarter. Trust Point Inc. increased its holdings in shares of Chesapeake Utilities by 3.2% during the 3rd quarter. Trust Point Inc. now owns 4,919 shares of the utilities provider's stock worth $611,000 after purchasing an additional 153 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Chesapeake Utilities by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the utilities provider's stock valued at $1,189,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 83.11% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on CPK shares. Guggenheim increased their price objective on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Barclays lifted their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $123.00.
Read Our Latest Report on Chesapeake Utilities
Chesapeake Utilities Trading Up 0.6 %
CPK stock traded up $0.74 on Monday, reaching $132.49. The company's stock had a trading volume of 101,281 shares, compared to its average volume of 112,474. 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 firm has a market cap of $3.02 billion, a PE ratio of 26.72 and a beta of 0.61. The business has a fifty day simple moving average of $123.50 and a two-hundred day simple moving average of $116.87. Chesapeake Utilities Co. has a 12-month low of $98.22 and a 12-month high of $134.20.
Chesapeake Utilities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.93%. Chesapeake Utilities's 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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