Charles Schwab Investment Management Inc. Raises Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Charles Schwab Investment Management Inc. raised its position in Chesapeake Utilities Co. (NYSE:CPK) by 4.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 269,886 shares of the utilities provider’s stock after purchasing an additional 10,822 shares during the period. Charles Schwab Investment Management Inc. owned 1.18% of Chesapeake Utilities worth $32,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Chesapeake Utilities by 0.9% in the third quarter. State Street Corp now owns 1,222,149 shares of the utilities provider’s stock worth $152,513,000 after buying an additional 11,068 shares in the last quarter. Geode Capital Management LLC raised its holdings in Chesapeake Utilities by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock valued at $64,157,000 after acquiring an additional 8,358 shares during the last quarter. Jennison Associates LLC lifted its stake in Chesapeake Utilities by 2.7% in the 4th quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider’s stock worth $60,090,000 after purchasing an additional 12,889 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Chesapeake Utilities by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock worth $35,760,000 after purchasing an additional 14,430 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Chesapeake Utilities by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 110,442 shares of the utilities provider’s stock valued at $13,402,000 after purchasing an additional 4,632 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CPK shares. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Guggenheim lifted their price target on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd.

Chesapeake Utilities Stock Up 1.1 %

Shares of NYSE CPK opened at $127.08 on Monday. The company has a market capitalization of $2.92 billion, a P/E ratio of 25.78 and a beta of 0.60. 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 company has a 50 day simple moving average of $123.56 and a 200-day simple moving average of $123.31. Chesapeake Utilities Co. has a 1 year low of $98.32 and a 1 year high of $134.20.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The business had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. During the same period last year, the business earned $1.64 EPS. On average, equities research analysts predict that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.64 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 2.01%. Chesapeake Utilities’s payout ratio is currently 48.58%.

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.