Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Chesapeake Utilities Co. (NYSE:CPK) by 50.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,035 shares of the utilities provider’s stock after acquiring an additional 1,346 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Chesapeake Utilities were worth $426,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. purchased a new stake in shares of Chesapeake Utilities in the 4th quarter valued at approximately $1,060,000. Strs Ohio increased its stake in Chesapeake Utilities by 83.7% during the 4th quarter. Strs Ohio now owns 81,200 shares of the utilities provider’s stock worth $8,577,000 after buying an additional 37,000 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in Chesapeake Utilities during the 4th quarter worth approximately $1,078,000. Tributary Capital Management LLC increased its stake in Chesapeake Utilities by 11.7% during the 4th quarter. Tributary Capital Management LLC now owns 122,322 shares of the utilities provider’s stock worth $12,921,000 after buying an additional 12,764 shares during the period. Finally, CTC Alternative Strategies Ltd. purchased a new stake in Chesapeake Utilities during the 4th quarter worth approximately $216,000. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Trading Up 0.8 %

NYSE CPK opened at $110.05 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.48 and a debt-to-equity ratio of 0.95. Chesapeake Utilities Co. has a 52 week low of $83.79 and a 52 week high of $132.91. The stock has a market capitalization of $2.45 billion, a PE ratio of 23.27 and a beta of 0.60. The firm has a 50 day moving average of $103.98 and a two-hundred day moving average of $100.66.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.53 by $0.11. Chesapeake Utilities had a net margin of 13.01% and a return on equity of 10.19%. The company had revenue of $185.30 million during the quarter, compared to analysts’ expectations of $234.60 million. During the same quarter in the previous year, the business posted $1.47 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts expect that Chesapeake Utilities Co. will post 5.41 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, March 14th. Chesapeake Utilities’s payout ratio is 49.89%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPK. StockNews.com downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their target price on shares of Chesapeake Utilities from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada upped their target price on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $107.00.

Chesapeake Utilities 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.