Farther Finance Advisors LLC Sells 1,437 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Farther Finance Advisors LLC decreased its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 86.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 220 shares of the utilities provider’s stock after selling 1,437 shares during the period. Farther Finance Advisors LLC’s holdings in Chesapeake Utilities were worth $27,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Chesapeake Utilities by 180.1% in the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 407 shares during the period. Fifth Third Bancorp boosted its position in Chesapeake Utilities by 17.7% in 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 during the last quarter. nVerses Capital LLC purchased a new position in Chesapeake Utilities in the third quarter worth about $99,000. Spirit of America Management Corp NY grew its stake in shares of Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 450 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Chesapeake Utilities by 504.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,379 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 1,151 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Analysts Set New Price Targets

CPK has been the subject of several recent research reports. Barclays boosted their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

Chesapeake Utilities Stock Up 0.7 %

CPK stock opened at $127.05 on Friday. The business’s 50-day moving average price is $121.60 and its 200-day moving average price is $115.32. The stock has a market cap of $2.89 billion, a P/E ratio of 25.77 and a beta of 0.61. Chesapeake Utilities Co. has a twelve month low of $90.21 and a twelve month high of $128.81. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.02%. Chesapeake Utilities’s payout ratio is 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.