Schroder Investment Management Group Buys 135,462 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Schroder Investment Management Group raised its stake in Chesapeake Utilities Co. (NYSE:CPKFree Report) by 136.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,996 shares of the utilities provider’s stock after buying an additional 135,462 shares during the period. Schroder Investment Management Group owned 1.32% of Chesapeake Utilities worth $24,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPK. Victory Capital Management Inc. boosted its holdings in shares of Chesapeake Utilities by 55.7% during the 3rd quarter. Victory Capital Management Inc. now owns 8,732 shares of the utilities provider’s stock valued at $854,000 after acquiring an additional 3,122 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Chesapeake Utilities by 2.5% during the third quarter. New York State Common Retirement Fund now owns 7,084 shares of the utilities provider’s stock valued at $692,000 after purchasing an additional 171 shares in the last quarter. Swiss National Bank grew its holdings in shares of Chesapeake Utilities by 1.0% during the third quarter. Swiss National Bank now owns 39,150 shares of the utilities provider’s stock worth $3,827,000 after purchasing an additional 400 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Chesapeake Utilities by 6.1% in the third quarter. Janney Montgomery Scott LLC now owns 13,206 shares of the utilities provider’s stock valued at $1,291,000 after buying an additional 759 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Chesapeake Utilities by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,621 shares of the utilities provider’s stock valued at $18,926,000 after buying an additional 10,416 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Down 1.2 %

CPK opened at $106.84 on Tuesday. Chesapeake Utilities Co. has a twelve month low of $83.79 and a twelve month high of $131.18. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average of $107.48 and a 200-day moving average of $104.36. The stock has a market cap of $2.38 billion, a PE ratio of 22.45 and a beta of 0.61.

Chesapeake Utilities (NYSE:CPKGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $2.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.04). Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The business had revenue of $245.70 million for the quarter, compared to analyst estimates of $260.16 million. During the same quarter in the previous year, the business posted $2.04 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that Chesapeake Utilities Co. will post 5.41 EPS for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.64 per share. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. This represents a $2.56 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, June 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 49.58%.

Wall Street Analyst Weigh In

CPK has been the topic of a number of research reports. Barclays started coverage on shares of Chesapeake Utilities in a report on Thursday, May 30th. They set an “equal weight” rating and a $111.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Chesapeake Utilities from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Royal Bank of Canada raised their target price on Chesapeake Utilities from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, StockNews.com downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $109.80.

View Our Latest Analysis on CPK

About Chesapeake Utilities

(Free Report)

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.

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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