14,270 Shares in Chesapeake Utilities Co. (NYSE:CPK) Bought by Norges Bank

Norges Bank acquired a new position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,270 shares of the utilities provider's stock, valued at approximately $1,732,000. Norges Bank owned 0.06% of Chesapeake Utilities as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Chesapeake Utilities by 12.7% during the 3rd quarter. FMR LLC now owns 4,859 shares of the utilities provider's stock worth $603,000 after purchasing an additional 547 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Chesapeake Utilities by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider's stock worth $702,000 after purchasing an additional 130 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Chesapeake Utilities by 10.0% during the third quarter. Stifel Financial Corp now owns 33,145 shares of the utilities provider's stock valued at $4,116,000 after acquiring an additional 3,001 shares in the last quarter. State Street Corp lifted its stake in shares of Chesapeake Utilities by 0.9% in the third quarter. State Street Corp now owns 1,222,149 shares of the utilities provider's stock valued at $152,513,000 after buying an additional 11,068 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Chesapeake Utilities by 11.6% in the third quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider's stock worth $5,095,000 after purchasing an additional 4,262 shares during the last quarter. Institutional investors own 83.11% of the company's stock.

Wall Street Analysts Forecast Growth

CPK has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a report on Thursday, April 3rd. StockNews.com upgraded Chesapeake Utilities from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $122.67.

Chesapeake Utilities Stock Up 1.5 %

Shares of NYSE CPK traded up $2.02 during midday trading on Thursday, hitting $135.51. The stock had a trading volume of 20,589 shares, compared to its average volume of 101,306. The company has a market cap of $3.12 billion, a P/E ratio of 27.43 and a beta of 0.66. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 52 week low of $100.33 and a 52 week high of $139.41. The business's 50 day moving average is $126.79 and its 200-day moving average is $124.48.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.67 by ($0.04). The company had revenue of $215.00 million for the quarter, compared to analysts' expectations of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same period in the previous year, the firm earned $1.64 earnings per share. As a group, analysts predict that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a $0.64 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.56 annualized dividend and a yield of 1.89%. Chesapeake Utilities's dividend payout ratio (DPR) is 48.58%.

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.