Charles Schwab Investment Management Inc. Boosts Stake in Chesapeake Utilities Co. (NYSE:CPK)

Charles Schwab Investment Management Inc. lifted its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,064 shares of the utilities provider’s stock after buying an additional 7,666 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.15% of Chesapeake Utilities worth $32,168,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Chesapeake Utilities by 180.1% in the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after buying an additional 407 shares in the last quarter. Assetmark Inc. boosted its position in Chesapeake Utilities by 19.2% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 102 shares in the last quarter. Fifth Third Bancorp boosted its position in Chesapeake Utilities by 17.7% during the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 115 shares in the last quarter. nVerses Capital LLC purchased a new stake in Chesapeake Utilities during the third quarter worth $99,000. Finally, Spirit of America Management Corp NY boosted its position in Chesapeake Utilities by 81.8% during the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 450 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPK has been the topic of a number of research analyst reports. Guggenheim boosted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Barclays boosted their price target on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Stock Performance

NYSE CPK opened at $130.23 on Wednesday. Chesapeake Utilities Co. has a fifty-two week low of $98.22 and a fifty-two week high of $134.20. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 26.42 and a beta of 0.64. The business has a fifty day moving average of $123.67 and a 200-day moving average of $117.00. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 1.97%. Chesapeake Utilities’s payout ratio is currently 51.93%.

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.