Zimmer Partners LP Sells 325,476 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Zimmer Partners LP decreased its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 74.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,695 shares of the utilities provider’s stock after selling 325,476 shares during the period. Zimmer Partners LP’s holdings in Chesapeake Utilities were worth $13,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Barclays PLC grew its position in shares of Chesapeake Utilities by 5.5% during the 4th quarter. Barclays PLC now owns 39,078 shares of the utilities provider’s stock valued at $4,742,000 after acquiring an additional 2,030 shares during the period. Arizona State Retirement System grew its position in shares of Chesapeake Utilities by 1.6% during 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 during the period. Van ECK Associates Corp grew its position in shares of 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 acquiring an additional 246 shares during the period. Raymond James Financial Inc. bought a new position in Chesapeake Utilities in the 4th quarter worth $5,110,000. Finally, Natixis Advisors LLC bought a new position in Chesapeake Utilities in the 4th quarter worth $1,216,000. Institutional investors own 83.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CPK shares. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a report on Friday, May 9th. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Barclays dropped their target price on shares of Chesapeake Utilities from $125.00 to $124.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th.

Chesapeake Utilities Stock Up 1.5%

Shares of CPK stock opened at $125.00 on Tuesday. The stock has a market cap of $2.92 billion, a P/E ratio of 25.36 and a beta of 0.71. Chesapeake Utilities Co. has a 52 week low of $102.64 and a 52 week high of $136.73. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $128.71 and its two-hundred day simple moving average is $126.02.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.06). The company had revenue of $298.70 million during the quarter, compared to analysts’ expectations of $248.45 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 EPS. Analysts predict that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be paid a $0.685 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.74 annualized dividend and a yield of 2.19%. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.64. Chesapeake Utilities’s payout ratio is presently 50.65%.

Chesapeake Utilities Company 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.