Jennison Associates LLC Trims Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Jennison Associates LLC cut its stake in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482,289 shares of the utilities provider's stock after selling 19,072 shares during the quarter. Jennison Associates LLC owned approximately 2.15% of Chesapeake Utilities worth $59,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Chesapeake Utilities by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider's stock valued at $199,471,000 after buying an additional 118,878 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Chesapeake Utilities by 9.5% in the third quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider's stock valued at $73,567,000 after purchasing an additional 51,164 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Chesapeake Utilities by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider's stock valued at $51,979,000 after purchasing an additional 19,100 shares during the last quarter. Boston Trust Walden Corp raised its holdings in shares of Chesapeake Utilities by 9.5% in the third quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider's stock valued at $37,320,000 after purchasing an additional 26,147 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Chesapeake Utilities by 61.5% in the first quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider's stock valued at $29,529,000 after purchasing an additional 104,850 shares during the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Performance

CPK stock traded up $1.37 during mid-day trading on Thursday, hitting $130.39. The company had a trading volume of 82,227 shares, compared to its average volume of 112,832. The firm has a market cap of $2.97 billion, a PE ratio of 26.45 and a beta of 0.61. 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 Co. has a 12 month low of $90.21 and a 12 month high of $130.93. The stock's fifty day moving average price is $122.42 and its two-hundred day moving average price is $115.92.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities's dividend payout ratio (DPR) is currently 51.93%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CPK shares. Barclays increased their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. StockNews.com upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Friday, November 8th.

Chesapeake Utilities 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.