Kevin J. Webber Sells 2,060 Shares of Chesapeake Utilities Co. (NYSE:CPK) Stock

Chesapeake Utilities Co. (NYSE:CPK – Get Rating) SVP Kevin J. Webber sold 2,060 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $129.00, for a total value of $265,740.00. Following the completion of the sale, the senior vice president now directly owns 7,993 shares of the company’s stock, valued at $1,031,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Chesapeake Utilities Stock Down 0.8 %

Shares of CPK stock opened at $128.43 on Friday. The stock has a market cap of $2.28 billion, a P/E ratio of 25.43 and a beta of 0.59. Chesapeake Utilities Co. has a one year low of $105.79 and a one year high of $142.39. The stock has a fifty day moving average price of $124.28 and a 200 day moving average price of $121.27. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.53 and a quick ratio of 0.45.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be given a $0.535 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.14 annualized dividend and a yield of 1.67%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 42.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Chesapeake Utilities from $110.00 to $115.00 in a research report on Wednesday, December 14th. Royal Bank of Canada increased their price objective on Chesapeake Utilities from $131.00 to $133.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 14th. StockNews.com assumed coverage on Chesapeake Utilities in a research report on Thursday. They issued a “hold” rating for the company. Finally, Guggenheim raised their target price on Chesapeake Utilities from $112.00 to $116.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 8th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Chesapeake Utilities by 3.8% during the third quarter. Vanguard Group Inc. now owns 1,414,163 shares of the utilities provider’s stock valued at $163,181,000 after acquiring an additional 51,208 shares during the period. State Street Corp lifted its holdings in shares of Chesapeake Utilities by 1.3% during the third quarter. State Street Corp now owns 633,731 shares of the utilities provider’s stock valued at $73,463,000 after acquiring an additional 8,056 shares during the period. First Trust Advisors LP lifted its holdings in shares of Chesapeake Utilities by 20.4% during the fourth quarter. First Trust Advisors LP now owns 614,793 shares of the utilities provider’s stock valued at $72,659,000 after acquiring an additional 104,036 shares during the period. Copeland Capital Management LLC lifted its holdings in shares of Chesapeake Utilities by 47.9% during the fourth quarter. Copeland Capital Management LLC now owns 392,676 shares of the utilities provider’s stock valued at $46,406,000 after acquiring an additional 127,113 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Chesapeake Utilities by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 318,927 shares of the utilities provider’s stock valued at $37,690,000 after acquiring an additional 6,385 shares during the period. 74.23% of the stock is owned by institutional investors.

About Chesapeake Utilities

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Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.