US Bancorp DE Sells 1,752 Shares of Chesapeake Utilities Co. (NYSE:CPK)

US Bancorp DE cut its stake in Chesapeake Utilities Co. (NYSE:CPK) by 38.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,812 shares of the utilities provider’s stock after selling 1,752 shares during the period. US Bancorp DE’s holdings in Chesapeake Utilities were worth $349,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CPK. Vanguard Group Inc. raised its holdings in shares of Chesapeake Utilities by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock valued at $199,471,000 after purchasing an additional 118,878 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Chesapeake Utilities by 9.5% during the third quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider’s stock valued at $73,567,000 after buying an additional 51,164 shares during the period. Dimensional Fund Advisors LP raised its stake in Chesapeake Utilities by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock worth $51,979,000 after buying an additional 19,100 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in Chesapeake Utilities by 9.5% during the third quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider’s stock worth $37,320,000 after buying an additional 26,147 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Chesapeake Utilities by 61.5% during the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock valued at $29,529,000 after acquiring an additional 104,850 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $126.10 on Wednesday. Chesapeake Utilities Co. has a 12 month low of $85.15 and a 12 month high of $128.54. The stock has a fifty day moving average price of $121.18 and a 200-day moving average price of $115.02. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.91. The firm has a market cap of $2.83 billion, a PE ratio of 25.58 and a beta of 0.61.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is presently 51.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CPK. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Barclays increased their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research report on Monday, October 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.