JPMorgan Chase & Co. Purchases 14,430 Shares of Chesapeake Utilities Co. (NYSE:CPK)

JPMorgan Chase & Co. grew its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 287,993 shares of the utilities provider’s stock after purchasing an additional 14,430 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.26% of Chesapeake Utilities worth $35,760,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Rhumbline Advisers grew its holdings in Chesapeake Utilities by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 72,986 shares of the utilities provider’s stock worth $7,751,000 after acquiring an additional 3,850 shares during the period. Victory Capital Management Inc. lifted its stake in Chesapeake Utilities by 170.5% in the second quarter. Victory Capital Management Inc. now owns 124,716 shares of the utilities provider’s stock valued at $13,245,000 after buying an additional 78,613 shares during the period. Arizona State Retirement System boosted its holdings in Chesapeake Utilities by 4.6% during the second quarter. Arizona State Retirement System now owns 6,225 shares of the utilities provider’s stock worth $661,000 after buying an additional 273 shares during the last quarter. Savant Capital LLC bought a new position in Chesapeake Utilities during the second quarter worth about $3,834,000. Finally, Choreo LLC acquired a new position in shares of Chesapeake Utilities during the 2nd quarter worth about $251,000. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of CPK opened at $118.09 on Tuesday. 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 Co. has a twelve month low of $98.25 and a twelve month high of $134.20. The stock has a market capitalization of $2.69 billion, a P/E ratio of 23.95 and a beta of 0.65. The company has a 50 day moving average of $125.13 and a 200-day moving average of $119.73.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 16th were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, December 16th. Chesapeake Utilities’s payout ratio is presently 51.93%.

Analysts Set New Price Targets

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

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.