Russell Investments Group Ltd. Decreases Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Russell Investments Group Ltd. decreased its position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 35.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,964 shares of the utilities provider's stock after selling 22,960 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of Chesapeake Utilities worth $4,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Chesapeake Utilities by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,934,574 shares of the utilities provider's stock valued at $234,761,000 after purchasing an additional 44,692 shares during the last quarter. Geode Capital Management LLC increased its holdings in Chesapeake Utilities by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider's stock valued at $64,157,000 after acquiring an additional 8,358 shares in the last quarter. Jennison Associates LLC raised its position in Chesapeake Utilities by 2.7% during the fourth quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider's stock worth $60,090,000 after acquiring an additional 12,889 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Chesapeake Utilities by 10.3% in the fourth quarter. JPMorgan Chase & Co. now owns 317,752 shares of the utilities provider's stock valued at $38,559,000 after purchasing an additional 29,759 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Chesapeake Utilities by 4.2% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Trading Up 1.3 %

Chesapeake Utilities stock traded up $1.68 during trading on Friday, hitting $135.17. The company's stock had a trading volume of 171,797 shares, compared to its average volume of 102,018. The stock's fifty day moving average is $127.29 and its 200 day moving average is $124.63. Chesapeake Utilities Co. has a 1-year low of $102.15 and a 1-year high of $136.52. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 27.42 and a beta of 0.66. 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 (NYSE:CPK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The company had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. During the same period in the prior year, the company earned $1.64 EPS. As a group, equities research 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. Stockholders of record on Friday, March 14th were paid a dividend of $0.64 per share. The ex-dividend date was Friday, March 14th. This represents a $2.56 annualized dividend and a dividend yield of 1.89%. Chesapeake Utilities's dividend payout ratio is presently 48.58%.

Wall Street Analysts Forecast Growth

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

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.