Principal Financial Group Inc. Purchases 4,632 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Principal Financial Group Inc. raised its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,442 shares of the utilities provider's stock after acquiring an additional 4,632 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Chesapeake Utilities worth $13,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of CPK. Jane Street Group LLC raised its holdings in Chesapeake Utilities by 11.6% in the 3rd 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 period. HighTower Advisors LLC raised its stake in shares of Chesapeake Utilities by 2.4% in the third quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider's stock worth $702,000 after buying an additional 130 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Chesapeake Utilities by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider's stock valued at $35,760,000 after buying an additional 14,430 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Chesapeake Utilities by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider's stock valued at $767,000 after buying an additional 246 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Chesapeake Utilities during the 3rd quarter valued at approximately $966,000. Hedge funds and other institutional investors own 83.11% of the company's stock.

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Analysts Set New Price Targets

CPK has been the topic of a number of recent analyst reports. Guggenheim raised their target price on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. StockNews.com downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Thursday.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK traded up $0.32 during trading on Friday, hitting $126.70. 126,760 shares of the company's stock were exchanged, compared to its average volume of 80,550. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 25.70 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities Co. has a 52-week low of $98.32 and a 52-week high of $134.20. The business's 50-day simple moving average is $122.24 and its 200 day simple moving average is $122.41.

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

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities's dividend payout ratio is presently 48.58%.

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.