Northern Trust Corp Increases Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Northern Trust Corp increased its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 281,910 shares of the utilities provider’s stock after buying an additional 23,160 shares during the period. Northern Trust Corp’s holdings in Chesapeake Utilities were worth $34,210,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its stake in shares of Chesapeake Utilities by 4.9% during the 4th quarter. Voya Investment Management LLC now owns 10,193 shares of the utilities provider’s stock valued at $1,237,000 after buying an additional 476 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Chesapeake Utilities during the 4th quarter valued at $550,000. Hsbc Holdings PLC grew its holdings in Chesapeake Utilities by 318.2% during the 4th quarter. Hsbc Holdings PLC now owns 11,692 shares of the utilities provider’s stock worth $1,413,000 after acquiring an additional 8,896 shares in the last quarter. Uniplan Investment Counsel Inc. increased its position in shares of Chesapeake Utilities by 2.1% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 13,171 shares of the utilities provider’s stock worth $1,598,000 after purchasing an additional 265 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Chesapeake Utilities by 1.0% during the fourth quarter. Stifel Financial Corp now owns 33,460 shares of the utilities provider’s stock worth $4,060,000 after purchasing an additional 315 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $126.73 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. Chesapeake Utilities Co. has a 1 year low of $102.64 and a 1 year high of $136.73. The firm has a fifty day moving average of $129.54 and a 200-day moving average of $125.94. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 25.71 and a beta of 0.71.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The business had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. During the same quarter in the prior year, the firm posted $2.10 earnings per share. The business’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, equities analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.685 per share. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.74 annualized dividend and a yield of 2.16%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 47.32%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CPK. StockNews.com cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Tuesday, April 22nd. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a report on Tuesday, April 22nd. Finally, Barclays dropped their target price on shares of Chesapeake Utilities from $125.00 to $124.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th.

About Chesapeake Utilities

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.