JPMorgan Chase & Co. bought a new stake in Chesapeake Utilities Co. (NYSE:CPK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,895 shares of the utilities provider’s stock, valued at approximately $229,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its stake in shares of Chesapeake Utilities by 11.9% during the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after buying an additional 148 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Chesapeake Utilities by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,663 shares of the utilities provider’s stock worth $200,000 after buying an additional 398 shares during the period. Pitcairn Co. acquired a new stake in shares of Chesapeake Utilities during the third quarter worth $201,000. Symons Capital Management Inc. acquired a new stake in shares of Chesapeake Utilities during the third quarter worth $223,000. Finally, Advisory Services Network LLC lifted its stake in shares of Chesapeake Utilities by 1.2% during the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock worth $224,000 after buying an additional 34 shares during the period. Institutional investors own 62.16% of the company’s stock.
Shares of Chesapeake Utilities Co. (NYSE CPK) opened at $69.10 on Friday. Chesapeake Utilities Co. has a one year low of $63.10 and a one year high of $86.35. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 0.43. The company has a market cap of $1,135.94, a price-to-earnings ratio of 25.84, a PEG ratio of 3.42 and a beta of 0.26.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 15th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.30 annualized dividend and a dividend yield of 1.88%. Chesapeake Utilities’s payout ratio is currently 48.33%.
In other Chesapeake Utilities news, Director Thomas P. Hill, Jr. bought 1,000 shares of Chesapeake Utilities stock in a transaction that occurred on Thursday, December 21st. The stock was purchased at an average price of $75.62 per share, with a total value of $75,620.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $76.65, for a total transaction of $191,625.00. The disclosure for this sale can be found here. Insiders own 4.16% of the company’s stock.
Several research firms have recently commented on CPK. Sidoti began coverage on shares of Chesapeake Utilities in a research note on Wednesday, October 18th. They set a “neutral” rating and a $85.00 price objective for the company. Zacks Investment Research upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Tuesday, November 14th.
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Chesapeake Utilities Company 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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