Principal Financial Group Inc. Trims Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Principal Financial Group Inc. reduced its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 17.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,810 shares of the utilities provider's stock after selling 22,924 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Chesapeake Utilities worth $13,138,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake 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 purchasing an additional 407 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Chesapeake Utilities by 17.7% in 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 bought a new stake in shares of Chesapeake Utilities during the third quarter valued at about $99,000. Spirit of America Management Corp NY boosted its position in shares of 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 acquiring an additional 450 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in Chesapeake Utilities by 504.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,379 shares of the utilities provider's stock worth $146,000 after buying an additional 1,151 shares in the last quarter. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Stock Up 0.6 %

Shares of NYSE CPK traded up $0.79 during trading hours on Friday, hitting $126.97. 69,022 shares of the stock were exchanged, compared to its average volume of 94,070. The company has a market cap of $2.89 billion, a PE ratio of 25.75 and a beta of 0.61. Chesapeake Utilities Co. has a 12 month low of $90.21 and a 12 month high of $128.81. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average price of $121.60 and a 200-day moving average price of $115.44.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities's payout ratio is 51.93%.

Analyst Ratings Changes

Several analysts recently issued reports on CPK shares. StockNews.com raised Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Barclays boosted their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an "equal weight" rating in a research 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.