Wilmington Savings Fund Society FSB Acquires Shares of 1,465 Chesapeake Utilities Co. (NYSE:CPK)

Wilmington Savings Fund Society FSB bought a new position in Chesapeake Utilities Co. (NYSE:CPK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,465 shares of the utilities provider’s stock, valued at approximately $182,000.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. increased its holdings in Chesapeake Utilities by 170.5% in the second quarter. Victory Capital Management Inc. now owns 124,716 shares of the utilities provider’s stock valued at $13,245,000 after buying an additional 78,613 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of Chesapeake Utilities by 9.5% in the 3rd quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider’s stock worth $73,567,000 after acquiring an additional 51,164 shares in the last quarter. Savant Capital LLC bought a new stake in shares of Chesapeake Utilities in the 2nd quarter valued at approximately $3,834,000. Barclays PLC raised its position in shares of Chesapeake Utilities by 342.4% during the 3rd quarter. Barclays PLC now owns 37,048 shares of the utilities provider’s stock valued at $4,600,000 after acquiring an additional 28,673 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its stake in Chesapeake Utilities by 9.5% during the third quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider’s stock worth $37,320,000 after purchasing an additional 26,147 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Stock Down 4.8 %

Chesapeake Utilities stock opened at $119.11 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. Chesapeake Utilities Co. has a one year low of $98.25 and a one year high of $134.20. The company has a 50-day simple moving average of $125.11 and a 200-day simple moving average of $118.42. The firm has a market capitalization of $2.71 billion, a P/E ratio of 24.16 and a beta of 0.64.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a $0.64 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.15%. Chesapeake Utilities’s payout ratio is currently 51.93%.

Analysts Set New Price Targets

Several research firms have weighed in on CPK. StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Barclays increased their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Guggenheim lifted their target price on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Chesapeake Utilities currently has an average rating of “Hold” and an average price target of $123.00.

Chesapeake Utilities Company 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.