Nuveen Asset Management LLC cut its position in Chesapeake Utilities Co. (NYSE:CPK) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,249 shares of the utilities provider’s stock after selling 6,740 shares during the quarter. Nuveen Asset Management LLC owned 0.49% of Chesapeake Utilities worth $8,201,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of CPK. Guggenheim Capital LLC grew its stake in Chesapeake Utilities by 18.8% during the 4th quarter. Guggenheim Capital LLC now owns 16,552 shares of the utilities provider’s stock worth $1,791,000 after purchasing an additional 2,622 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Chesapeake Utilities by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,397,985 shares of the utilities provider’s stock worth $259,486,000 after purchasing an additional 14,259 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chesapeake Utilities by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 139,162 shares of the utilities provider’s stock worth $15,059,000 after purchasing an additional 5,575 shares in the last quarter. American International Group Inc. grew its stake in Chesapeake Utilities by 3.6% during the 4th quarter. American International Group Inc. now owns 11,580 shares of the utilities provider’s stock worth $1,253,000 after purchasing an additional 402 shares in the last quarter. Finally, Vantage Consulting Group Inc acquired a new position in Chesapeake Utilities during the 4th quarter worth $102,000. 76.50% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CPK opened at $119.37 on Friday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 27.44 and a beta of 0.25. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.33 and a quick ratio of 0.30. The business has a 50-day moving average of $114.85 and a two-hundred day moving average of $104.53. Chesapeake Utilities Co. has a 1 year low of $72.89 and a 1 year high of $121.04.
The company also recently announced a quarterly dividend, which was paid on Monday, April 5th. Stockholders of record on Monday, March 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, March 12th. Chesapeake Utilities’s payout ratio is currently 48.09%.
CPK has been the subject of several analyst reports. Zacks Investment Research cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Monday, January 4th. Wells Fargo & Company downgraded Chesapeake Utilities from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $93.00 to $96.00 in a report on Wednesday, January 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Chesapeake Utilities has a consensus rating of “Hold” and a consensus target price of $105.25.
In other news, insider John R. Schimkaitis sold 8,250 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $115.00, for a total value of $948,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.14% of the stock is currently owned by insiders.
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The Regulated Energy segment engages in the distribution of natural gas in central and southern Delaware, Maryland's eastern shore, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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