Chesapeake Utilities Corporation (NYSE:CPK) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,431 shares of the utilities provider's stock after purchasing an additional 2,989 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Chesapeake Utilities worth $14,568,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Spire Wealth Management purchased a new position in Chesapeake Utilities during the first quarter worth approximately $26,000. Federated Hermes Inc. raised its stake in shares of Chesapeake Utilities by 587.1% in the 4th 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. NBC Securities Inc. purchased a new position in shares of Chesapeake Utilities in the 1st quarter valued at $30,000. Byrne Asset Management LLC raised its stake in shares of Chesapeake Utilities by 114.3% in the 1st quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 144 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Chesapeake Utilities by 50.7% in the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 83.11% of the company's stock.

Wall Street Analyst Weigh In

CPK has been the topic of a number of research reports. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th. Barclays dropped their price target on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Chesapeake Utilities Stock Down 0.2%

Chesapeake Utilities stock traded down $0.23 during midday trading on Friday, hitting $123.32. 73,646 shares of the stock were exchanged, compared to its average volume of 107,427. Chesapeake Utilities Corporation has a 1 year low of $109.40 and a 1 year high of $136.73. The firm has a market cap of $2.88 billion, a P/E ratio of 22.79 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. The company has a 50 day moving average price of $122.39 and a two-hundred day moving average price of $124.59.

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 for the quarter, missing the consensus estimate of $2.28 by ($0.06). The company had revenue of $298.70 million for the quarter, compared to analyst estimates of $248.45 million. Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. Chesapeake Utilities's revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 earnings per share. On average, sell-side analysts predict that Chesapeake Utilities Corporation 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 was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were issued a dividend of $0.685 per share. 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 2.22%. The ex-dividend date was Monday, June 16th. Chesapeake Utilities's dividend payout ratio (DPR) is currently 50.65%.

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.