Raymond James Financial Inc. Buys New Position in Chesapeake Utilities Co. (NYSE:CPK)

Raymond James Financial Inc. purchased a new position in Chesapeake Utilities Co. (NYSE:CPK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 42,109 shares of the utilities provider’s stock, valued at approximately $5,110,000.

A number of other large investors also recently modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of Chesapeake Utilities by 2,018.2% in the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 222 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Chesapeake Utilities by 159.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 539 shares during the last quarter. KBC Group NV boosted its holdings in Chesapeake Utilities by 46.2% in the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 331 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Chesapeake Utilities in the 3rd quarter worth $182,000. Finally, Spirit of America Management Corp NY increased its holdings in shares of Chesapeake Utilities by 66.7% during the 4th quarter. Spirit of America Management Corp NY now owns 2,500 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 1,000 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance

CPK opened at $124.58 on Wednesday. The stock’s 50 day simple moving average is $124.62 and its 200-day simple moving average is $123.65. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The stock has a market cap of $2.87 billion, a PE ratio of 25.27 and a beta of 0.60. Chesapeake Utilities Co. has a 1 year low of $98.32 and a 1 year high of $134.20.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The business had revenue of $215.00 million during the quarter, compared to the consensus estimate of $237.84 million. During the same period last year, the firm earned $1.64 EPS. Sell-side analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.58%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

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.