Russell Investments Group Ltd. reduced its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 36.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,144 shares of the utilities provider’s stock after selling 9,321 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Chesapeake Utilities worth $1,355,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Chesapeake Utilities by 13.9% during the 2nd quarter. BlackRock Inc. now owns 1,195,316 shares of the utilities provider’s stock worth $95,566,000 after purchasing an additional 145,855 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Chesapeake Utilities by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 543,699 shares of the utilities provider’s stock worth $43,469,000 after purchasing an additional 4,951 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Chesapeake Utilities by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 341,300 shares of the utilities provider’s stock worth $27,287,000 after purchasing an additional 29,100 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Chesapeake Utilities by 1.2% during the 2nd quarter. Northern Trust Corp now owns 206,591 shares of the utilities provider’s stock worth $16,516,000 after purchasing an additional 2,466 shares during the last quarter. Finally, Tufton Capital Management lifted its stake in shares of Chesapeake Utilities by 1.4% during the 3rd quarter. Tufton Capital Management now owns 108,179 shares of the utilities provider’s stock worth $9,076,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 64.66% of the company’s stock.
CPK has been the subject of a number of analyst reports. Zacks Investment Research upgraded Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, August 13th. ValuEngine upgraded Chesapeake Utilities from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Wells Fargo & Co upped their price objective on Chesapeake Utilities from $82.00 to $86.00 and gave the stock a “market perform” rating in a research note on Monday, September 17th. Janney Montgomery Scott cut Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research note on Monday, September 24th. Finally, Maxim Group initiated coverage on Chesapeake Utilities in a research note on Wednesday, November 28th. They set a “buy” rating and a $100.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $91.25.
Shares of NYSE:CPK opened at $89.07 on Friday. Chesapeake Utilities Co. has a 1 year low of $66.35 and a 1 year high of $93.09. The stock has a market cap of $1.44 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 4.37 and a beta of 0.09. The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48.
Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Thursday, November 8th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.15). Chesapeake Utilities had a net margin of 9.31% and a return on equity of 10.25%. The business had revenue of $140.28 million for the quarter, compared to analyst estimates of $142.85 million. Research analysts expect that Chesapeake Utilities Co. will post 3.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Friday, December 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.66%. The ex-dividend date is Thursday, December 13th. Chesapeake Utilities’s dividend payout ratio is currently 51.21%.
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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