Chesapeake Utilities Co. (NYSE:CPK) Position Raised by Northern Trust Corp

Northern Trust Corp grew its position in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,910 shares of the utilities provider's stock after acquiring an additional 23,160 shares during the quarter. Northern Trust Corp owned about 1.24% of Chesapeake Utilities worth $34,210,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Federated Hermes Inc. lifted its holdings in Chesapeake Utilities by 587.1% in the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 182 shares during the period. Quantbot Technologies LP purchased a new position in shares of Chesapeake Utilities in the fourth quarter valued at $50,000. Sterling Capital Management LLC increased its position in shares of Chesapeake Utilities by 805.2% in the fourth quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider's stock valued at $85,000 after buying an additional 620 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Chesapeake Utilities by 159.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock valued at $106,000 after buying an additional 539 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Chesapeake Utilities by 46.2% in the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider's stock valued at $127,000 after buying an additional 331 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance

Shares of NYSE CPK traded up $1.48 during trading on Friday, reaching $121.79. The stock had a trading volume of 24,069 shares, compared to its average volume of 110,543. Chesapeake Utilities Co. has a one year low of $102.64 and a one year high of $136.73. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The stock has a market cap of $2.84 billion, a PE ratio of 24.70 and a beta of 0.71. The firm's 50 day moving average price is $128.85 and its two-hundred day moving average price is $125.87.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share for the quarter, missing analysts' consensus estimates of $2.28 by ($0.06). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $298.70 million during the quarter, compared to the consensus estimate of $248.45 million. During the same quarter last year, the firm posted $2.10 earnings per share. Chesapeake Utilities's revenue was up 21.6% compared to the same quarter last year. On average, research analysts forecast that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be paid a dividend of $0.685 per share. This is an increase from Chesapeake Utilities's previous quarterly dividend of $0.64. This represents a $2.74 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, June 16th. Chesapeake Utilities's dividend payout ratio is presently 50.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CPK. Barclays dropped their price objective on Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. StockNews.com raised Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th.

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.