Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,617 shares of the utilities provider’s stock after selling 560 shares during the period. Pitcairn Co.’s holdings in Chesapeake Utilities were worth $697,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wedge Capital Management L L P NC increased its stake in Chesapeake Utilities by 33.7% in the second quarter. Wedge Capital Management L L P NC now owns 57,163 shares of the utilities provider’s stock valued at $6,071,000 after purchasing an additional 14,417 shares during the period. Boston Trust Walden Corp raised its stake in Chesapeake Utilities by 76.1% during the 2nd quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock valued at $29,142,000 after acquiring an additional 118,561 shares during the last quarter. Vanguard Group Inc. lifted its position in Chesapeake Utilities by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after acquiring an additional 118,878 shares during the period. Janus Henderson Group PLC grew its stake in shares of Chesapeake Utilities by 61.5% in the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock valued at $29,529,000 after purchasing an additional 104,850 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Chesapeake Utilities by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock valued at $51,979,000 after purchasing an additional 19,100 shares during the period. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $132.32 on Monday. The firm’s fifty day simple moving average is $122.62 and its 200-day simple moving average is $116.15. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The stock has a market cap of $3.01 billion, a PE ratio of 26.84 and a beta of 0.61. Chesapeake Utilities Co. has a fifty-two week low of $90.80 and a fifty-two week high of $133.00.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be issued a $0.64 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 1.93%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Guggenheim increased their price target on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday. 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 target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.00.

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.