Public Sector Pension Investment Board Lowers Position in Chesapeake Utilities Co. (NYSE:CPK)

Public Sector Pension Investment Board reduced its stake in Chesapeake Utilities Co. (NYSE:CPK) by 2.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 47,680 shares of the utilities provider’s stock after selling 1,300 shares during the period. Public Sector Pension Investment Board’s holdings in Chesapeake Utilities were worth $5,920,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CPK. GAMMA Investing LLC increased its position in shares of Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 407 shares during the last quarter. Assetmark Inc. boosted its position in shares of 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 buying an additional 102 shares during the period. Fifth Third Bancorp grew its stake in shares of Chesapeake Utilities by 17.7% in the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after buying an additional 115 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Chesapeake Utilities in the third quarter valued at $99,000. Finally, Spirit of America Management Corp NY lifted its stake in Chesapeake Utilities by 81.8% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

CPK stock opened at $131.75 on Friday. Chesapeake Utilities Co. has a 1 year low of $91.45 and a 1 year high of $134.20. The firm has a market capitalization of $3.00 billion, a P/E ratio of 26.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The business’s 50-day moving average is $123.50 and its two-hundred day moving average is $116.80.

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 paid a $0.64 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 1.94%. Chesapeake Utilities’s dividend payout ratio is currently 51.93%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Barclays lifted their price objective 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. Finally, Guggenheim increased their target price on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.