Harbour Investments Inc. Decreases Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Harbour Investments Inc. lowered its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 15.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,863 shares of the utilities provider’s stock after selling 531 shares during the quarter. Harbour Investments Inc.’s holdings in Chesapeake Utilities were worth $347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CPK. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Chesapeake Utilities in the third quarter valued at approximately $461,000. Intech Investment Management LLC purchased a new position in shares of Chesapeake Utilities in the 3rd quarter valued at $481,000. Charles Schwab Investment Management Inc. raised its stake in Chesapeake Utilities by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 259,064 shares of the utilities provider’s stock worth $32,168,000 after acquiring an additional 7,666 shares in the last quarter. FMR LLC lifted its position in Chesapeake Utilities by 12.7% in the third quarter. FMR LLC now owns 4,859 shares of the utilities provider’s stock valued at $603,000 after acquiring an additional 547 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in Chesapeake Utilities by 15.4% in the third quarter. Glenmede Trust Co. NA now owns 6,782 shares of the utilities provider’s stock valued at $842,000 after acquiring an additional 904 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Trading Down 1.3 %

NYSE CPK opened at $123.86 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The firm has a market cap of $2.85 billion, a PE ratio of 25.12 and a beta of 0.60. Chesapeake Utilities Co. has a one year low of $98.32 and a one year high of $134.20. The firm’s fifty day moving average is $124.34 and its two-hundred day moving average is $123.50.

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

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid 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 2.07%. Chesapeake Utilities’s dividend payout ratio is presently 48.58%.

Analysts Set New Price Targets

CPK has been the topic of a number of research analyst reports. Guggenheim lifted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

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.