HighTower Advisors LLC Acquires 130 Shares of Chesapeake Utilities Co. (NYSE:CPK)

HighTower Advisors LLC boosted its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,659 shares of the utilities provider’s stock after purchasing an additional 130 shares during the quarter. HighTower Advisors LLC’s holdings in Chesapeake Utilities were worth $702,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPK. Assetmark Inc. raised its position in shares of Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares during the period. Fifth Third Bancorp raised its holdings in Chesapeake Utilities by 17.7% in the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 115 shares during the period. Creative Planning lifted its position in Chesapeake Utilities by 1.8% during the third quarter. Creative Planning now owns 7,706 shares of the utilities provider’s stock worth $957,000 after acquiring an additional 135 shares during the last quarter. Trust Point Inc. boosted its holdings in shares of Chesapeake Utilities by 3.2% during the third quarter. Trust Point Inc. now owns 4,919 shares of the utilities provider’s stock worth $611,000 after acquiring an additional 153 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in shares of Chesapeake Utilities by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the utilities provider’s stock valued at $1,189,000 after purchasing an additional 200 shares during the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Price Performance

Shares of NYSE CPK opened at $119.11 on Thursday. The business has a fifty day moving average price of $125.11 and a two-hundred day moving average price of $118.42. The stock has a market capitalization of $2.71 billion, a PE ratio of 24.16 and a beta of 0.64. 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 Co. has a fifty-two week low of $98.25 and a fifty-two week high of $134.20.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 2.15%. Chesapeake Utilities’s dividend payout ratio is 51.93%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CPK shares. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Barclays lifted 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 upped their price target on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.00.

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.