Principal Financial Group Inc. Purchases 2,989 Shares of Chesapeake Utilities Corporation (NYSE:CPK)

Principal Financial Group Inc. lifted its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,431 shares of the utilities provider's stock after purchasing an additional 2,989 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Chesapeake Utilities worth $14,568,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CPK. Charles Schwab Investment Management Inc. boosted its stake in Chesapeake Utilities by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 269,886 shares of the utilities provider's stock worth $32,751,000 after buying an additional 10,822 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Chesapeake Utilities during the 4th quarter worth approximately $1,399,000. Arizona State Retirement System increased its holdings in shares of Chesapeake Utilities by 1.6% in the 4th quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider's stock valued at $791,000 after acquiring an additional 103 shares during the last quarter. Raymond James Financial Inc. bought a new position in Chesapeake Utilities during the 4th quarter worth $5,110,000. Finally, Swiss National Bank grew its stake in Chesapeake Utilities by 1.4% during the 4th quarter. Swiss National Bank now owns 44,150 shares of the utilities provider's stock worth $5,358,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Stock Down 1.8%

Chesapeake Utilities stock traded down $2.27 during mid-day trading on Tuesday, hitting $121.48. The company's stock had a trading volume of 81,480 shares, compared to its average volume of 106,943. The firm's 50 day moving average is $122.39 and its 200 day moving average is $124.63. The company has a market cap of $2.83 billion, a PE ratio of 22.45 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.46 and a quick ratio of 0.40. Chesapeake Utilities Corporation has a 52-week low of $110.37 and a 52-week high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.06). The business had revenue of $298.70 million during the quarter, compared to analysts' expectations of $248.45 million. Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. The firm's revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 earnings per share. On average, analysts anticipate that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were given a $0.685 dividend. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.64. This represents a $2.74 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, June 16th. Chesapeake Utilities's dividend payout ratio is presently 50.65%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Barclays cut their target price on Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th.

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.