NFJ Investment Group LLC Lowers Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

NFJ Investment Group LLC lessened its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,928 shares of the utilities provider’s stock after selling 1,410 shares during the period. NFJ Investment Group LLC owned 0.12% of Chesapeake Utilities worth $3,268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC increased its holdings in shares of Chesapeake Utilities by 2.4% during the third quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock valued at $702,000 after acquiring an additional 130 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Chesapeake Utilities by 5.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock worth $35,760,000 after acquiring an additional 14,430 shares during the last quarter. Arizona State Retirement System lifted its position in Chesapeake Utilities by 1.6% in the 4th quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock valued at $791,000 after acquiring an additional 103 shares in the last quarter. Van ECK Associates Corp boosted its stake 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 last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Chesapeake Utilities by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock worth $64,157,000 after purchasing an additional 8,358 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th. LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities to a “strong-buy” rating in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $122.67.

Chesapeake Utilities Trading Down 1.2 %

Shares of Chesapeake Utilities stock opened at $133.53 on Thursday. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 27.09 and a beta of 0.66. The business has a 50-day moving average price of $126.79 and a 200-day moving average price of $124.48. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a twelve month low of $100.33 and a twelve month high of $136.18.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The business had revenue of $215.00 million during the quarter, compared to analysts’ expectations of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same period last year, the business posted $1.64 earnings per share. Equities research analysts anticipate that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were given a $0.64 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.56 annualized dividend and a yield of 1.92%. Chesapeake Utilities’s dividend payout ratio is currently 48.58%.

Chesapeake Utilities Profile

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.