State Street Corp increased its position in Chesapeake Utilities Corporation (NYSE:CPK) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,874 shares of the utilities provider’s stock after purchasing an additional 8,078 shares during the quarter. State Street Corp owned approximately 1.96% of Chesapeake Utilities Corporation worth $24,043,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in CPK. Teachers Advisors LLC increased its position in Chesapeake Utilities Corporation by 0.4% in the first quarter. Teachers Advisors LLC now owns 203,879 shares of the utilities provider’s stock worth $14,108,000 after purchasing an additional 757 shares during the period. Vanguard Group Inc. increased its position in Chesapeake Utilities Corporation by 7.2% in the first quarter. Vanguard Group Inc. now owns 838,531 shares of the utilities provider’s stock worth $58,026,000 after purchasing an additional 56,078 shares during the period. Geode Capital Management LLC increased its position in Chesapeake Utilities Corporation by 3.0% in the first quarter. Geode Capital Management LLC now owns 122,612 shares of the utilities provider’s stock worth $8,484,000 after purchasing an additional 3,531 shares during the period. Dimensional Fund Advisors LP increased its position in Chesapeake Utilities Corporation by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 522,016 shares of the utilities provider’s stock worth $36,123,000 after purchasing an additional 8,450 shares during the period. Finally, KCG Holdings Inc. acquired a new stake in Chesapeake Utilities Corporation in the first quarter worth about $319,000. Hedge funds and other institutional investors own 60.38% of the company’s stock.
A number of analysts recently commented on CPK shares. BidaskClub upgraded Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Tuesday. Finally, Sidoti started coverage on Chesapeake Utilities Corporation in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $85.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $76.40.
Shares of Chesapeake Utilities Corporation (NYSE:CPK) opened at $81.90 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.44 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1,310.01, a PE ratio of 29.80, a P/E/G ratio of 4.71 and a beta of 0.25. Chesapeake Utilities Corporation has a 12-month low of $62.30 and a 12-month high of $82.15.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a dividend of $0.325 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.30 annualized dividend and a dividend yield of 1.59%. Chesapeake Utilities Corporation’s payout ratio is currently 48.33%.
Chesapeake Utilities Corporation 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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