Zimmer Partners LP Trims Stake in Chesapeake Utilities Co. (NYSE:CPK)

Zimmer Partners LP cut its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 438,171 shares of the utilities provider’s stock after selling 700 shares during the period. Chesapeake Utilities accounts for 1.0% of Zimmer Partners LP’s portfolio, making the stock its 25th largest holding. Zimmer Partners LP’s holdings in Chesapeake Utilities were worth $54,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 407 shares in the last quarter. Assetmark Inc. raised its stake in shares of Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after buying an additional 102 shares during the period. Fifth Third Bancorp lifted its position in shares of Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after buying an additional 115 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Chesapeake Utilities during the 3rd quarter valued at approximately $99,000. Finally, Spirit of America Management Corp NY grew its stake in shares of Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 450 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CPK. Guggenheim lifted their price target on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Barclays boosted their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chesapeake Utilities currently has an average rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Stock Performance

Chesapeake Utilities stock opened at $129.60 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a twelve month low of $98.25 and a twelve month high of $134.20. The company’s 50-day moving average price is $124.26 and its 200-day moving average price is $117.42. The company has a market cap of $2.95 billion, a PE ratio of 26.29 and a beta of 0.64.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 1.98%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.93%.

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.