Wells Fargo & Company MN Acquires 3,600 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Wells Fargo & Company MN increased its holdings in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,258 shares of the utilities provider's stock after purchasing an additional 3,600 shares during the quarter. Wells Fargo & Company MN owned 0.19% of Chesapeake Utilities worth $5,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in 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 during the period. Arizona State Retirement System grew its stake in shares of Chesapeake Utilities by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider's stock worth $791,000 after purchasing an additional 103 shares during the last quarter. Van ECK Associates Corp increased its holdings in 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 purchasing an additional 246 shares during the period. Geode Capital Management LLC raised its position 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 purchasing an additional 8,358 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Chesapeake Utilities in the 4th quarter worth approximately $5,110,000. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Up 0.3 %

Shares of Chesapeake Utilities stock traded up $0.46 during trading on Thursday, hitting $133.22. The company's stock had a trading volume of 55,289 shares, compared to its average volume of 102,993. Chesapeake Utilities Co. has a 52 week low of $102.64 and a 52 week high of $136.73. 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 company has a fifty day simple moving average of $127.98 and a two-hundred day simple moving average of $124.88. The company has a market capitalization of $3.07 billion, a PE ratio of 27.00 and a beta of 0.66.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings results 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 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 the consensus estimate of $237.84 million. During the same period in the prior year, the firm earned $1.64 earnings per share. Equities research analysts predict that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, March 14th. Chesapeake Utilities's payout ratio is currently 48.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CPK. Barclays upped their target price on Chesapeake Utilities from $120.00 to $125.00 and gave the company an "equal weight" rating in a report on Tuesday. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research report on Tuesday. Finally, StockNews.com cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $123.00.

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.