UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in Chesapeake Utilities Co. (NYSE:CPK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 24.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,784 shares of the utilities provider's stock after buying an additional 15,223 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.34% of Chesapeake Utilities worth $9,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in Chesapeake Utilities in the 4th quarter worth approximately $2,479,000. Snowden Capital Advisors LLC increased its position in Chesapeake Utilities by 9.0% in the fourth quarter. Snowden Capital Advisors LLC now owns 3,618 shares of the utilities provider's stock worth $441,000 after purchasing an additional 299 shares during the last quarter. ProShare Advisors LLC raised its stake in Chesapeake Utilities by 3.7% during the fourth quarter. ProShare Advisors LLC now owns 67,678 shares of the utilities provider's stock valued at $8,213,000 after purchasing an additional 2,398 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Chesapeake Utilities by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,582 shares of the utilities provider's stock valued at $1,527,000 after purchasing an additional 471 shares during the last quarter. Finally, Ellevest Inc. grew its stake in shares of Chesapeake Utilities by 6.9% in the 4th quarter. Ellevest Inc. now owns 7,012 shares of the utilities provider's stock worth $851,000 after buying an additional 455 shares in the last quarter. 83.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Chesapeake Utilities Trading Up 0.4%

CPK traded up $0.46 during trading hours on Tuesday, reaching $122.33. 51,641 shares of the company's stock traded hands, compared to its average volume of 105,536. The firm has a 50-day moving average price of $128.00 and a 200 day moving average price of $125.89. The firm has a market capitalization of $2.85 billion, a PE ratio of 24.81 and a beta of 0.71. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 52-week low of $102.64 and a 52-week high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued 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). The company had revenue of $298.70 million for the quarter, compared to analysts' expectations of $248.45 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 earnings per share. As a group, sell-side analysts predict that Chesapeake Utilities Co. will post 5.39 EPS 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. Shareholders of record on Monday, June 16th will be given a $0.685 dividend. This represents a $2.74 annualized dividend and a yield of 2.24%. This is a boost from Chesapeake Utilities's previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Monday, June 16th. Chesapeake Utilities's payout ratio is 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.