NFJ Investment Group LLC Sells 1,410 Shares of Chesapeake Utilities Co. (NYSE:CPK)

NFJ Investment Group LLC reduced its position in Chesapeake Utilities Co. (NYSE:CPK) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,928 shares of the utilities provider’s stock after selling 1,410 shares during the quarter. NFJ Investment Group LLC’s holdings in Chesapeake Utilities were worth $3,268,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Chesapeake Utilities by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,934,574 shares of the utilities provider’s stock worth $234,761,000 after acquiring an additional 44,692 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Chesapeake Utilities by 1.6% during the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock worth $64,157,000 after purchasing an additional 8,358 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Chesapeake Utilities by 2.7% during the fourth quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider’s stock valued at $60,090,000 after purchasing an additional 12,889 shares during the period. Invesco Ltd. grew its holdings in shares of Chesapeake Utilities by 3.0% in the fourth quarter. Invesco Ltd. now owns 464,679 shares of the utilities provider’s stock worth $56,389,000 after purchasing an additional 13,742 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Chesapeake Utilities by 10.3% in the 4th quarter. JPMorgan Chase & Co. now owns 317,752 shares of the utilities provider’s stock worth $38,559,000 after buying an additional 29,759 shares during the period. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of CPK stock opened at $133.53 on Thursday. The company has a market cap of $3.07 billion, a P/E ratio of 27.09 and a beta of 0.66. 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 stock’s 50-day moving average is $126.79 and its 200 day moving average is $124.48. Chesapeake Utilities Co. has a 1-year low of $100.33 and a 1-year high of $136.18.

Chesapeake Utilities (NYSE:CPK) last released its quarterly 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 firm had revenue of $215.00 million during the quarter, compared to analysts’ expectations of $237.84 million. During the same period in the prior year, the firm posted $1.64 earnings per share. Research analysts predict that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a dividend of $0.64 per share. The ex-dividend date was Friday, March 14th. This represents a $2.56 annualized dividend and a dividend yield of 1.92%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.58%.

Wall Street Analyst Weigh In

CPK has been the topic of a number of research reports. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. LADENBURG THALM/SH SH raised Chesapeake Utilities to a “strong-buy” rating in a research report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Chesapeake Utilities presently has a consensus rating of “Hold” and an average target price 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.