Eqis Capital Management Inc. increased its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,356 shares of the utilities provider’s stock after buying an additional 112 shares during the period. Eqis Capital Management Inc.’s holdings in Chesapeake Utilities were worth $451,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Chesapeake Utilities by 103.8% during the third quarter. BlackRock Inc. now owns 2,408,988 shares of the utilities provider’s stock valued at $203,077,000 after purchasing an additional 1,226,898 shares during the period. First Trust Advisors LP grew its holdings in Chesapeake Utilities by 38.3% during the third quarter. First Trust Advisors LP now owns 730,387 shares of the utilities provider’s stock valued at $61,572,000 after purchasing an additional 202,354 shares during the period. Boston Trust Walden Corp grew its holdings in Chesapeake Utilities by 4.8% during the third quarter. Boston Trust Walden Corp now owns 245,395 shares of the utilities provider’s stock valued at $20,686,000 after purchasing an additional 11,335 shares during the period. Copeland Capital Management LLC grew its holdings in Chesapeake Utilities by 21.6% during the third quarter. Copeland Capital Management LLC now owns 202,101 shares of the utilities provider’s stock valued at $17,037,000 after purchasing an additional 35,957 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Chesapeake Utilities by 1,987.5% during the third quarter. Principal Financial Group Inc. now owns 127,026 shares of the utilities provider’s stock valued at $10,709,000 after purchasing an additional 120,941 shares during the period. Hedge funds and other institutional investors own 71.26% of the company’s stock.
CPK has been the subject of a number of analyst reports. Maxim Group boosted their price objective on shares of Chesapeake Utilities from $117.00 to $121.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company reiterated a “hold” rating on shares of Chesapeake Utilities in a report on Friday, August 7th. Finally, Zacks Investment Research cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a report on Tuesday, November 10th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $103.00.
In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $105.00, for a total transaction of $262,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.14% of the company’s stock.
Shares of CPK opened at $105.06 on Friday. Chesapeake Utilities Co. has a 12 month low of $69.47 and a 12 month high of $111.31. The firm has a fifty day simple moving average of $95.36 and a 200 day simple moving average of $86.89. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.15 and a beta of 0.20. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.84.
Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Wednesday, November 4th. The utilities provider reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.14. Chesapeake Utilities had a net margin of 14.84% and a return on equity of 11.14%. As a group, research analysts predict that Chesapeake Utilities Co. will post 4.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, December 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.09%.
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The Regulated Energy segment engages in the distribution of natural gas in central and southern Delaware, Maryland's eastern shore, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
Featured Story: Mutual Funds
Want to see what other hedge funds are holding CPK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chesapeake Utilities Co. (NYSE:CPK).
Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.