UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Chesapeake Utilities Co. (NYSE:CPK) by 31.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,561 shares of the utilities provider’s stock after purchasing an additional 14,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.27% of Chesapeake Utilities worth $7,644,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Wedge Capital Management L L P NC boosted its stake in shares of Chesapeake Utilities by 33.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 57,163 shares of the utilities provider’s stock worth $6,071,000 after buying an additional 14,417 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Chesapeake Utilities by 76.1% in the second quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock valued at $29,142,000 after acquiring an additional 118,561 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Chesapeake Utilities by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock valued at $51,979,000 after purchasing an additional 19,100 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Chesapeake Utilities by 11.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 53,121 shares of the utilities provider’s stock valued at $6,596,000 after purchasing an additional 5,487 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of Chesapeake Utilities during the 2nd quarter valued at about $3,834,000. Institutional investors own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

CPK has been the subject of several recent research reports. StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Barclays raised their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Guggenheim raised their target price on 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 given a buy rating to the stock. Based on data from MarketBeat, Chesapeake Utilities presently has a consensus rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Stock Down 1.5 %

Shares of CPK stock opened at $127.83 on Tuesday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 25.93 and a beta of 0.64. Chesapeake Utilities Co. has a one year low of $98.25 and a one year high of $134.20. The company’s fifty day moving average price is $124.33 and its 200-day moving average price is $117.65. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is 51.93%.

About Chesapeake Utilities

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.