Schwab Charles Investment Management Inc. raised its position in Chesapeake Utilities Co. (NYSE:CPK) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,577 shares of the utilities provider’s stock after buying an additional 4,570 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.47% of Chesapeake Utilities worth $6,016,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. California Public Employees Retirement System boosted its position in Chesapeake Utilities by 11.5% in the 3rd quarter. California Public Employees Retirement System now owns 42,661 shares of the utilities provider’s stock valued at $3,338,000 after buying an additional 4,411 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Chesapeake Utilities by 30.5% in the 3rd quarter. SG Americas Securities LLC now owns 15,389 shares of the utilities provider’s stock valued at $1,204,000 after purchasing an additional 3,594 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Chesapeake Utilities by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 531,966 shares of the utilities provider’s stock valued at $41,627,000 after purchasing an additional 6,981 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Chesapeake Utilities by 28.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,922 shares of the utilities provider’s stock valued at $1,324,000 after purchasing an additional 3,712 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Chesapeake Utilities by 2.6% in the 2nd quarter. State Street Corp now owns 320,874 shares of the utilities provider’s stock valued at $24,043,000 after purchasing an additional 8,078 shares in the last quarter. 62.34% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on CPK. Zacks Investment Research upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Seaport Global Securities restated a “neutral” rating on shares of Chesapeake Utilities in a research note on Monday, March 5th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $83.33.
Shares of Chesapeake Utilities Co. (CPK) opened at $70.85 on Tuesday. The stock has a market cap of $1,142.48, a PE ratio of 24.19, a PEG ratio of 3.39 and a beta of 0.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.38. Chesapeake Utilities Co. has a 12 month low of $66.25 and a 12 month high of $86.35.
Chesapeake Utilities (NYSE:CPK) last issued its earnings results on Wednesday, February 28th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $180.40 million for the quarter, compared to analyst estimates of $147.85 million. Chesapeake Utilities had a net margin of 9.41% and a return on equity of 10.10%. sell-side analysts forecast that Chesapeake Utilities Co. will post 3.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.83%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 36.62%.
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Chesapeake Utilities Profile
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.
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