Raymond James Financial Inc. Takes Position in Chesapeake Utilities Co. (NYSE:CPK)

Raymond James Financial Inc. acquired a new stake in shares of Chesapeake Utilities Co. (NYSE:CPK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 42,109 shares of the utilities provider’s stock, valued at approximately $5,110,000. Raymond James Financial Inc. owned approximately 0.18% of Chesapeake Utilities as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CPK. Versant Capital Management Inc grew its holdings in shares of Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 222 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Chesapeake Utilities by 159.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 539 shares in the last quarter. KBC Group NV raised its stake in shares of Chesapeake Utilities by 46.2% during the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 331 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Chesapeake Utilities during the 3rd quarter worth about $182,000. Finally, Spirit of America Management Corp NY lifted its holdings in shares of Chesapeake Utilities by 66.7% during the 4th quarter. Spirit of America Management Corp NY now owns 2,500 shares of the utilities provider’s stock valued at $303,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

Chesapeake Utilities Price Performance

NYSE CPK opened at $124.58 on Wednesday. Chesapeake Utilities Co. has a fifty-two week low of $98.32 and a fifty-two week high of $134.20. The stock’s 50-day moving average is $124.62 and its two-hundred day moving average is $123.65. The firm has a market cap of $2.87 billion, a P/E ratio of 25.27 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.

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

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, March 14th. Chesapeake Utilities’s dividend payout ratio is currently 48.58%.

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.