Eqis Capital Management Inc. increased its stake in Chesapeake Utilities Co. (NYSE:CPK) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,356 shares of the utilities provider’s stock after acquiring an additional 112 shares during the quarter. Eqis Capital Management Inc.’s holdings in Chesapeake Utilities were worth $451,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CPK. First Trust Advisors LP increased its stake in shares of Chesapeake Utilities by 19,449.5% in the 2nd quarter. First Trust Advisors LP now owns 528,033 shares of the utilities provider’s stock valued at $44,355,000 after acquiring an additional 525,332 shares in the last quarter. Boston Trust Walden Corp grew its position in Chesapeake Utilities by 8.5% in the 2nd quarter. Boston Trust Walden Corp now owns 234,060 shares of the utilities provider’s stock valued at $19,661,000 after purchasing an additional 18,320 shares during the period. Moody Aldrich Partners LLC grew its position in Chesapeake Utilities by 17.1% in the 2nd quarter. Moody Aldrich Partners LLC now owns 78,331 shares of the utilities provider’s stock valued at $6,580,000 after purchasing an additional 11,411 shares during the period. Copeland Capital Management LLC grew its position in Chesapeake Utilities by 21.1% in the 2nd quarter. Copeland Capital Management LLC now owns 166,144 shares of the utilities provider’s stock valued at $13,956,000 after purchasing an additional 29,001 shares during the period. Finally, Comerica Bank acquired a new stake in Chesapeake Utilities in the 2nd quarter valued at $4,346,000. Institutional investors own 71.26% of the company’s stock.
CPK opened at $105.06 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.33 and a quick ratio of 0.30. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 24.15 and a beta of 0.20. The firm’s fifty day moving average price is $95.36 and its two-hundred day moving average price is $86.89. Chesapeake Utilities Co. has a 1 year low of $69.47 and a 1 year high of $111.31.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, December 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.09%.
Several analysts recently issued reports on CPK shares. Wells Fargo & Company reissued a “hold” rating on shares of Chesapeake Utilities in a research report on Friday, August 7th. Zacks Investment Research downgraded shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Tuesday, November 10th. Finally, Maxim Group lifted their price target on shares of Chesapeake Utilities from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $103.00.
In related news, insider John R. Schimkaitis sold 2,500 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $91.00, for a total value of $227,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.14% of the stock is currently owned by insiders.
About Chesapeake Utilities
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.
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