MML Investors Services LLC Has $390,000 Stake in Chesapeake Utilities Co. (NYSE:CPK)

MML Investors Services LLC cut its position in Chesapeake Utilities Co. (NYSE:CPK) by 23.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,138 shares of the utilities provider’s stock after selling 955 shares during the quarter. MML Investors Services LLC’s holdings in Chesapeake Utilities were worth $390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd bought a new position in Chesapeake Utilities in the third quarter valued at approximately $390,000. Jane Street Group LLC boosted its holdings in shares of Chesapeake Utilities by 11.6% in the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock valued at $5,095,000 after purchasing an additional 4,262 shares in the last quarter. State Street Corp increased its stake in shares of Chesapeake Utilities by 0.9% in the 3rd quarter. State Street Corp now owns 1,222,149 shares of the utilities provider’s stock valued at $152,513,000 after purchasing an additional 11,068 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Chesapeake Utilities by 10.0% in the 3rd quarter. Stifel Financial Corp now owns 33,145 shares of the utilities provider’s stock valued at $4,116,000 after purchasing an additional 3,001 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of Chesapeake Utilities during the 3rd quarter worth $804,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Chesapeake Utilities Stock Performance

Shares of Chesapeake Utilities stock opened at $119.93 on Tuesday. The business has a 50-day simple moving average of $125.20 and a 200 day simple moving average of $118.66. Chesapeake Utilities Co. has a one year low of $98.25 and a one year high of $134.20. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 24.33 and a beta of 0.64.

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 2.13%. Chesapeake Utilities’s payout ratio is 51.93%.

Chesapeake Utilities Company 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.