Raymond James Financial Inc. Takes Position in Chesapeake Utilities Co. (NYSE:CPK)

Raymond James Financial Inc. acquired a new position in Chesapeake Utilities Co. (NYSE:CPK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 42,109 shares of the utilities provider's stock, valued at approximately $5,110,000. Raymond James Financial Inc. owned about 0.18% of Chesapeake Utilities at the end of the most recent quarter.

Several other large investors have also modified their holdings of CPK. State Street Corp lifted its position in Chesapeake Utilities by 0.9% during the 3rd quarter. State Street Corp now owns 1,222,149 shares of the utilities provider's stock worth $152,513,000 after acquiring an additional 11,068 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Chesapeake Utilities by 1.6% during the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider's stock valued at $64,157,000 after purchasing an additional 8,358 shares during the period. Jennison Associates LLC increased its position in shares of Chesapeake Utilities by 2.7% during the fourth quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider's stock valued at $60,090,000 after purchasing an additional 12,889 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Chesapeake Utilities by 5.3% in the third quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider's stock valued at $35,760,000 after purchasing an additional 14,430 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Chesapeake Utilities by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 269,886 shares of the utilities provider's stock worth $32,751,000 after purchasing an additional 10,822 shares during the period. 83.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Friday, March 7th.

Chesapeake Utilities Price Performance

Shares of CPK stock traded up $2.61 during trading hours on Friday, hitting $128.23. The company had a trading volume of 96,482 shares, compared to its average volume of 96,165. Chesapeake Utilities Co. has a 12 month low of $98.32 and a 12 month high of $134.20. 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's fifty day moving average is $124.84 and its 200 day moving average is $123.76. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 26.01 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same quarter last year, the company earned $1.64 earnings per share. On average, sell-side analysts predict that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors 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 2.00%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities's dividend payout ratio is currently 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.