Harbour Investments Inc. Cuts Stake in Chesapeake Utilities Co. (NYSE:CPK)

Harbour Investments Inc. lowered its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,394 shares of the utilities provider’s stock after selling 416 shares during the period. Harbour Investments Inc.’s holdings in Chesapeake Utilities were worth $421,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CPK. GAMMA Investing LLC raised its holdings in Chesapeake Utilities by 180.1% in the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 407 shares during the last quarter. Assetmark Inc. increased its stake in Chesapeake Utilities by 19.2% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after buying an additional 102 shares in the last quarter. Fifth Third Bancorp raised its stake in Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 115 shares during the period. nVerses Capital LLC purchased a new position in shares of Chesapeake Utilities in the third quarter worth $99,000. Finally, Spirit of America Management Corp NY boosted its position in shares of Chesapeake Utilities by 81.8% during the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 450 shares during the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Price Performance

CPK stock opened at $126.97 on Friday. Chesapeake Utilities Co. has a 52 week low of $90.21 and a 52 week high of $128.81. The firm has a market capitalization of $2.89 billion, a P/E ratio of 25.75 and a beta of 0.61. The company has a fifty day simple moving average of $121.60 and a two-hundred day simple moving average of $115.38. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities Dividend Announcement

The business 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 $0.64 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 2.02%. Chesapeake Utilities’s dividend payout ratio is currently 51.93%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CPK shares. Barclays lifted their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

Chesapeake Utilities 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.