MML Investors Services LLC Sells 955 Shares of Chesapeake Utilities Co. (NYSE:CPK)

MML Investors Services LLC lessened its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,138 shares of the utilities provider’s stock after selling 955 shares during the period. MML Investors Services LLC’s holdings in Chesapeake Utilities were worth $390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates lifted its holdings in Chesapeake Utilities by 5.9% during the second quarter. Raymond James & Associates now owns 12,591 shares of the utilities provider’s stock valued at $1,337,000 after purchasing an additional 705 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after buying an additional 115 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Chesapeake Utilities by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the utilities provider’s stock worth $1,189,000 after buying an additional 200 shares during the period. Versor Investments LP purchased a new position in Chesapeake Utilities in the 2nd quarter valued at approximately $266,000. Finally, Rhumbline Advisers raised its holdings in Chesapeake Utilities by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 72,986 shares of the utilities provider’s stock valued at $7,751,000 after acquiring an additional 3,850 shares during the period. Institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CPK shares. Guggenheim boosted 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. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Barclays raised their price objective 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. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Chesapeake Utilities presently has a consensus rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $119.93 on Tuesday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 24.33 and a beta of 0.64. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $125.20 and a 200 day simple moving average of $118.66. Chesapeake Utilities Co. has a 52 week low of $98.25 and a 52 week high of $134.20.

Chesapeake Utilities Announces Dividend

The business 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 $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.13%. 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.