Chesapeake Utilities Co. (NYSE:CPK) Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its position in Chesapeake Utilities Co. (NYSE:CPK) by 60.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 228,507 shares of the utilities provider’s stock after purchasing an additional 85,801 shares during the period. Goldman Sachs Group Inc. owned approximately 1.03% of Chesapeake Utilities worth $24,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its holdings in shares of Chesapeake Utilities by 12.5% in the third quarter. HighTower Advisors LLC now owns 6,176 shares of the utilities provider’s stock valued at $597,000 after buying an additional 687 shares during the period. Rhumbline Advisers lifted its holdings in Chesapeake Utilities by 0.9% in the 3rd quarter. Rhumbline Advisers now owns 55,882 shares of the utilities provider’s stock valued at $5,462,000 after acquiring an additional 515 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Chesapeake Utilities during the 3rd quarter valued at about $293,000. Envestnet Asset Management Inc. grew its stake in shares of Chesapeake Utilities by 33.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 91,225 shares of the utilities provider’s stock worth $8,917,000 after purchasing an additional 23,048 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Chesapeake Utilities by 4.5% in the 3rd quarter. Invesco Ltd. now owns 90,521 shares of the utilities provider’s stock worth $8,848,000 after purchasing an additional 3,885 shares in the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Performance

Shares of Chesapeake Utilities stock opened at $106.97 on Tuesday. The stock has a market cap of $2.38 billion, a PE ratio of 22.47 and a beta of 0.61. Chesapeake Utilities Co. has a 12 month low of $83.79 and a 12 month high of $124.72. 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 business has a fifty day simple moving average of $107.96 and a 200-day simple moving average of $105.09.

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

Chesapeake Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a $0.64 dividend. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, June 14th. This represents a $2.56 dividend on an annualized basis and a yield of 2.39%. Chesapeake Utilities’s dividend payout ratio is presently 53.78%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CPK shares. StockNews.com cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Thursday, February 29th. Royal Bank of Canada boosted 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. Wells Fargo & Company upped their target price on Chesapeake Utilities from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Barclays assumed coverage on Chesapeake Utilities in a research note on Thursday, May 30th. They issued an “equal weight” rating and a $111.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.80.

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.