Prudential Financial Inc. decreased its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 41.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,439 shares of the utilities provider’s stock after selling 5,160 shares during the period. Prudential Financial Inc.’s holdings in Chesapeake Utilities were worth $582,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Advisory Services Network LLC raised its position in Chesapeake Utilities by 1.2% during the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 34 shares in the last quarter. Legal & General Group Plc raised its position in Chesapeake Utilities by 2.4% during the second quarter. Legal & General Group Plc now owns 3,865 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 90 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Chesapeake Utilities by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 12,280 shares of the utilities provider’s stock valued at $921,000 after purchasing an additional 127 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Chesapeake Utilities by 11.9% during the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 148 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Chesapeake Utilities by 1.1% during the second quarter. Rhumbline Advisers now owns 19,125 shares of the utilities provider’s stock valued at $1,433,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 62.16% of the company’s stock.
A number of research firms have weighed in on CPK. Sidoti began coverage on Chesapeake Utilities in a research report on Wednesday, October 18th. They set a “neutral” rating and a $85.00 price target on the stock. BidaskClub raised Chesapeake Utilities from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research raised Chesapeake Utilities from a “strong sell” rating to a “hold” rating in a research note on Monday, October 23rd.
Chesapeake Utilities Co. (CPK) opened at $82.45 on Monday. Chesapeake Utilities Co. has a 12 month low of $63.00 and a 12 month high of $86.35. The stock has a market capitalization of $1,347.60, a PE ratio of 30.65, a PEG ratio of 4.82 and a beta of 0.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.44.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.325 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.58%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.33%.
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Chesapeake Utilities Profile
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.
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