Geode Capital Management LLC Boosts Holdings in Chesapeake Utilities (CPK)

Geode Capital Management LLC boosted its position in Chesapeake Utilities (NYSE:CPK) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,900 shares of the utilities provider’s stock after purchasing an additional 3,994 shares during the quarter. Geode Capital Management LLC owned approximately 0.81% of Chesapeake Utilities worth $10,439,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPK. New Amsterdam Partners LLC NY bought a new position in Chesapeake Utilities in the fourth quarter worth $4,935,000. BlackRock Inc. raised its holdings in Chesapeake Utilities by 3.5% in the fourth quarter. BlackRock Inc. now owns 1,020,450 shares of the utilities provider’s stock worth $80,158,000 after purchasing an additional 34,339 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Chesapeake Utilities by 64.3% in the fourth quarter. Wells Fargo & Company MN now owns 81,821 shares of the utilities provider’s stock worth $6,428,000 after purchasing an additional 32,018 shares in the last quarter. First Manhattan Co. raised its holdings in Chesapeake Utilities by 22.8% in the fourth quarter. First Manhattan Co. now owns 89,047 shares of the utilities provider’s stock worth $6,994,000 after purchasing an additional 16,540 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Chesapeake Utilities by 120.0% in the fourth quarter. First Trust Advisors LP now owns 22,458 shares of the utilities provider’s stock worth $1,764,000 after purchasing an additional 12,252 shares in the last quarter. Institutional investors and hedge funds own 62.25% of the company’s stock.

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NYSE CPK opened at $73.30 on Monday. Chesapeake Utilities has a 12 month low of $66.35 and a 12 month high of $86.35. The firm has a market capitalization of $1,198.02, a PE ratio of 25.36, a P/E/G ratio of 3.55 and a beta of 0.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.38 and a current ratio of 0.43.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Wednesday, February 28th. The utilities provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Chesapeake Utilities had a return on equity of 10.10% and a net margin of 9.41%. The firm had revenue of $180.40 million for the quarter, compared to analysts’ expectations of $147.85 million. equities analysts anticipate that Chesapeake Utilities will post 3.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th were paid a $0.325 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.77%. Chesapeake Utilities’s dividend payout ratio is currently 44.98%.

In other news, insider Stephen C. Thompson sold 2,263 shares of the stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $72.17, for a total value of $163,320.71. Following the sale, the insider now directly owns 73,605 shares of the company’s stock, valued at $5,312,072.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John R. Schimkaitis sold 2,500 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $71.00, for a total value of $177,500.00. The disclosure for this sale can be found here. Corporate insiders own 4.16% of the company’s stock.

A number of research firms have recently commented on CPK. Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, March 26th. Seaport Global Securities reissued a “neutral” rating on shares of Chesapeake Utilities in a research note on Monday, March 5th. Finally, Sidoti raised Chesapeake Utilities from a “neutral” rating to a “buy” rating in a research note on Monday, March 19th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $79.67.

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Chesapeake Utilities Profile

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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