Alliancebernstein L.P. Sells 188 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Alliancebernstein L.P. reduced its stake in Chesapeake Utilities Co. (NYSE:CPK) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,827 shares of the utilities provider’s stock after selling 188 shares during the period. Alliancebernstein L.P. owned approximately 0.26% of Chesapeake Utilities worth $7,260,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. FMR LLC grew its position in Chesapeake Utilities by 12.7% during the 3rd quarter. FMR LLC now owns 4,859 shares of the utilities provider’s stock valued at $603,000 after purchasing an additional 547 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Chesapeake Utilities by 2.4% in the third quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock worth $702,000 after buying an additional 130 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Chesapeake Utilities by 10.0% during the third quarter. Stifel Financial Corp now owns 33,145 shares of the utilities provider’s stock valued at $4,116,000 after buying an additional 3,001 shares during the last quarter. State Street Corp increased its position in shares of Chesapeake Utilities by 0.9% during the third quarter. State Street Corp now owns 1,222,149 shares of the utilities provider’s stock valued at $152,513,000 after acquiring an additional 11,068 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Chesapeake Utilities by 11.6% in the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock worth $5,095,000 after acquiring an additional 4,262 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Up 2.9 %

Shares of CPK stock opened at $131.23 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 12-month low of $98.32 and a 12-month high of $134.86. The stock has a market capitalization of $3.02 billion, a P/E ratio of 26.62 and a beta of 0.66. The firm’s 50 day moving average is $126.20 and its 200 day moving average is $124.25.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. During the same period in the previous year, the company earned $1.64 earnings per share. Research analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a dividend of $0.64 per share. The ex-dividend date was Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.95%. Chesapeake Utilities’s dividend payout ratio is currently 48.58%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a research note on Thursday, April 3rd. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $122.67.

About Chesapeake Utilities

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.