Geode Capital Management LLC Grows Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Geode Capital Management LLC lifted its position in Chesapeake Utilities Co. (NYSE:CPK) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 516,586 shares of the utilities provider’s stock after buying an additional 8,358 shares during the quarter. Geode Capital Management LLC owned approximately 2.27% of Chesapeake Utilities worth $64,157,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. grew its position in Chesapeake Utilities by 19.2% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 102 shares in the last quarter. Fifth Third Bancorp grew its holdings 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 purchasing an additional 115 shares in the last quarter. nVerses Capital LLC purchased a new stake in Chesapeake Utilities during the 3rd quarter worth approximately $99,000. GAMMA Investing LLC increased its stake in Chesapeake Utilities by 64.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock worth $129,000 after buying an additional 405 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Chesapeake Utilities by 504.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,379 shares of the utilities provider’s stock worth $146,000 after buying an additional 1,151 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $119.56 on Friday. The stock has a market cap of $2.72 billion, a P/E ratio of 24.25 and a beta of 0.64. The company has a fifty day simple moving average of $125.19 and a 200-day simple moving average of $118.48. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 12-month low of $98.25 and a 12-month high of $134.20.

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 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 dividend yield of 2.14%. Chesapeake Utilities’s dividend payout ratio is currently 51.93%.

Wall Street Analyst Weigh In

A number of analysts have recently 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 upped their price target 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 lifted their price objective on Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.