Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,136 shares of the utilities provider's stock after selling 3,723 shares during the period. Legal & General Group Plc owned approximately 0.64% of Chesapeake Utilities worth $17,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in shares of Chesapeake Utilities by 587.1% in the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after acquiring an additional 182 shares during the period. Versant Capital Management Inc increased its holdings in shares of Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 222 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Utilities in the 4th quarter valued at $50,000. Smartleaf Asset Management LLC boosted its holdings in Chesapeake Utilities by 159.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock worth $106,000 after buying an additional 539 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Chesapeake Utilities by 46.2% during the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider's stock worth $127,000 after buying an additional 331 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Price Performance

CPK traded up $1.68 on Friday, hitting $135.17. 171,797 shares of the company's stock were exchanged, compared to its average volume of 102,018. The firm has a 50-day moving average price of $127.29 and a 200-day moving average price of $124.63. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 27.42 and a beta of 0.66. 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 fifty-two week low of $102.15 and a fifty-two week high of $136.52.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.04). The company had revenue of $215.00 million during the quarter, compared to analysts' expectations of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same quarter in the previous year, the company earned $1.64 earnings per share. As a group, equities analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a $0.64 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 1.89%. Chesapeake Utilities's payout ratio is currently 48.58%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities to a "strong-buy" rating in a research report on Thursday, April 3rd. StockNews.com raised Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $122.67.

Chesapeake Utilities Company 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.