Zimmer Partners LP Lowers Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Zimmer Partners LP trimmed its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 74.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 112,695 shares of the utilities provider's stock after selling 325,476 shares during the period. Zimmer Partners LP owned approximately 0.49% of Chesapeake Utilities worth $13,676,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Chesapeake Utilities by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,934,574 shares of the utilities provider's stock valued at $234,761,000 after purchasing an additional 44,692 shares during the last quarter. Jennison Associates LLC increased its position in shares of Chesapeake Utilities by 2.7% during the fourth quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider's stock valued at $60,090,000 after acquiring an additional 12,889 shares in the last quarter. Invesco Ltd. increased its position in shares of Chesapeake Utilities by 3.0% during the fourth quarter. Invesco Ltd. now owns 464,679 shares of the utilities provider's stock valued at $56,389,000 after acquiring an additional 13,742 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Chesapeake Utilities by 10.3% during the fourth quarter. JPMorgan Chase & Co. now owns 317,752 shares of the utilities provider's stock valued at $38,559,000 after acquiring an additional 29,759 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Chesapeake Utilities by 9.0% during the fourth quarter. Northern Trust Corp now owns 281,910 shares of the utilities provider's stock valued at $34,210,000 after acquiring an additional 23,160 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Trading Up 1.5%

NYSE:CPK opened at $125.00 on Tuesday. 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 12 month low of $102.64 and a 12 month high of $136.73. The company has a market cap of $2.92 billion, a PE ratio of 25.36 and a beta of 0.71. The company has a 50 day simple moving average of $128.71 and a two-hundred day simple moving average of $126.02.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $2.22 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 company had revenue of $298.70 million during the quarter, compared to the consensus estimate of $248.45 million. During the same period last year, the firm posted $2.10 EPS. The company's revenue for the quarter was up 21.6% on a year-over-year basis. Research analysts forecast that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, June 16th. This is an increase from Chesapeake Utilities's previous quarterly dividend of $0.64. Chesapeake Utilities's payout ratio is 50.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CPK shares. StockNews.com raised shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays reduced their price target on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a research 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 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.

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