First Trust Advisors LP raised its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 142.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,825 shares of the utilities provider’s stock after acquiring an additional 24,014 shares during the period. First Trust Advisors LP owned approximately 0.25% of Chesapeake Utilities worth $3,425,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Tortoise Index Solutions LLC raised its stake in Chesapeake Utilities by 14.3% during the 2nd quarter. Tortoise Index Solutions LLC now owns 8,564 shares of the utilities provider’s stock valued at $685,000 after acquiring an additional 1,072 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Chesapeake Utilities by 2,424.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 1,382 shares in the last quarter. Swiss National Bank raised its stake in Chesapeake Utilities by 5.2% during the 2nd quarter. Swiss National Bank now owns 28,450 shares of the utilities provider’s stock valued at $2,275,000 after acquiring an additional 1,400 shares in the last quarter. Summit Global Investments raised its stake in Chesapeake Utilities by 26.1% during the 2nd quarter. Summit Global Investments now owns 8,700 shares of the utilities provider’s stock valued at $696,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Strs Ohio raised its stake in Chesapeake Utilities by 45.7% during the 2nd quarter. Strs Ohio now owns 6,700 shares of the utilities provider’s stock valued at $535,000 after acquiring an additional 2,100 shares in the last quarter. 64.84% of the stock is currently owned by hedge funds and other institutional investors.
CPK opened at $83.30 on Monday. Chesapeake Utilities Co. has a one year low of $66.35 and a one year high of $93.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.30. The firm has a market capitalization of $1.36 billion, a PE ratio of 26.44, a PEG ratio of 4.15 and a beta of 0.09.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Friday, December 14th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 13th. Chesapeake Utilities’s dividend payout ratio is presently 51.21%.
A number of analysts have recently commented on the company. Wells Fargo & Co boosted 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 downgraded Chesapeake Utilities from a “buy” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a research note on Monday, September 24th. ValuEngine raised Chesapeake Utilities from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research downgraded Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Chesapeake Utilities currently has an average rating of “Buy” and an average target price of $88.33.
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Chesapeake Utilities 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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