Chesapeake Utilities Co. (NYSE:CPK) Stock Position Decreased by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,836 shares of the utilities provider’s stock after selling 299 shares during the period. Magellan Asset Management Ltd’s holdings in Chesapeake Utilities were worth $1,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Chesapeake Utilities by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 259,064 shares of the utilities provider’s stock valued at $32,168,000 after buying an additional 7,666 shares in the last quarter. FMR LLC raised its holdings in shares of Chesapeake Utilities by 12.7% during 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Chesapeake Utilities by 31.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,561 shares of the utilities provider’s stock valued at $7,644,000 after acquiring an additional 14,607 shares in the last quarter. Centiva Capital LP acquired a new position in Chesapeake Utilities in the 3rd quarter worth approximately $357,000. Finally, HighTower Advisors LLC grew its position in Chesapeake Utilities by 2.4% during the 3rd quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock worth $702,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of CPK opened at $129.85 on Thursday. 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 company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 26.34 and a beta of 0.60. The business’s 50-day moving average is $125.19 and its 200-day moving average is $123.94. Chesapeake Utilities Co. has a fifty-two week low of $98.32 and a fifty-two week high of $134.20.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The company had revenue of $215.00 million during the quarter, compared to analysts’ expectations of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter in the previous year, the company earned $1.64 EPS. Equities research analysts expect that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently announced 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 1.97%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.58%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

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.