Chesapeake Utilities Co. (NYSE:CPK) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 3.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 67,678 shares of the utilities provider's stock after purchasing an additional 2,398 shares during the quarter. ProShare Advisors LLC owned about 0.30% of Chesapeake Utilities worth $8,213,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. lifted its position in Chesapeake Utilities by 587.1% during the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock valued at $26,000 after buying an additional 182 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Utilities during the 4th quarter valued at $50,000. Sterling Capital Management LLC lifted its holdings in shares of Chesapeake Utilities by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider's stock valued at $85,000 after acquiring an additional 620 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Chesapeake Utilities by 159.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock worth $106,000 after purchasing an additional 539 shares during the period. Finally, KBC Group NV boosted its position in Chesapeake Utilities by 46.2% during the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider's stock worth $127,000 after purchasing an additional 331 shares during the period. Hedge funds and other institutional investors own 83.11% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CPK. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Wednesday. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a report on Friday, May 9th. Finally, Barclays decreased their price target on Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th.

Chesapeake Utilities Stock Up 0.3%

CPK stock traded up $0.39 during trading on Friday, reaching $121.42. The stock had a trading volume of 14,475 shares, compared to its average volume of 105,744. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average price of $128.48 and a 200 day moving average price of $126.02. The company has a market capitalization of $2.83 billion, a P/E ratio of 24.63 and a beta of 0.71. Chesapeake Utilities Co. has a 1-year low of $102.64 and a 1-year high of $136.73.

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

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be given a dividend of $0.685 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Chesapeake Utilities's previous quarterly dividend of $0.64. Chesapeake Utilities's dividend payout ratio (DPR) is presently 50.65%.

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.