Fmr LLC Has $603,000 Stake in Chesapeake Utilities Co. (NYSE:CPK)

Fmr LLC lifted its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,859 shares of the utilities provider’s stock after purchasing an additional 547 shares during the quarter. Fmr LLC’s holdings in Chesapeake Utilities were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Assetmark Inc. boosted its position in Chesapeake Utilities by 19.2% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 102 shares during the period. Fifth Third Bancorp lifted its stake in shares of Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after buying an additional 115 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Chesapeake Utilities during the 3rd quarter worth about $99,000. Spirit of America Management Corp NY grew its stake in Chesapeake Utilities by 81.8% in the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after buying an additional 450 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Chesapeake Utilities by 64.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock valued at $129,000 after acquiring an additional 405 shares during the period. 83.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Chesapeake Utilities Price Performance

Shares of NYSE CPK opened at $119.11 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities Co. has a fifty-two week low of $98.25 and a fifty-two week high of $134.20. The stock has a market capitalization of $2.71 billion, a PE ratio of 24.16 and a beta of 0.64. The business has a fifty day moving average price of $125.11 and a two-hundred day moving average price of $118.42.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a dividend of $0.64 per share. 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 dividend payout ratio is 51.93%.

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.