Jennison Associates LLC Has $60.09 Million Position in Chesapeake Utilities Co. (NYSE:CPK)

Jennison Associates LLC grew its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 495,178 shares of the utilities provider’s stock after acquiring an additional 12,889 shares during the quarter. Jennison Associates LLC owned 2.17% of Chesapeake Utilities worth $60,090,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CPK. Versant Capital Management Inc increased its stake in Chesapeake Utilities by 2,018.2% in the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after buying an additional 222 shares during the last quarter. Assetmark Inc. raised its position in shares of Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares during the period. nVerses Capital LLC bought a new position in Chesapeake Utilities in the 3rd quarter valued at about $99,000. GAMMA Investing LLC increased its stake in shares of Chesapeake Utilities by 64.0% during the third quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 405 shares during the period. Finally, KBC Group NV increased its position in Chesapeake Utilities by 46.2% during the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after buying an additional 331 shares during the period. 83.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPK has been the topic of several recent research reports. Barclays raised their target price 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. Guggenheim lifted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, StockNews.com cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Price Performance

Shares of CPK opened at $123.05 on Tuesday. The business’s fifty day moving average is $123.57 and its 200 day moving average is $121.47. Chesapeake Utilities Co. has a 12-month low of $98.25 and a 12-month high of $134.20. 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 $2.80 billion, a P/E ratio of 24.96 and a beta of 0.65.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.11. The firm had revenue of $160.14 million during the quarter, compared to analyst estimates of $164.80 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same period in the previous year, the company posted $0.69 EPS. Sell-side analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 16th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is currently 51.93%.

Chesapeake Utilities 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.