Peregrine Capital Management LLC Invests $5.76 Million in Chesapeake Utilities Co. (NYSE:CPK)

Peregrine Capital Management LLC purchased a new position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 54,485 shares of the utilities provider's stock, valued at approximately $5,755,000. Peregrine Capital Management LLC owned about 0.31% of Chesapeake Utilities as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CPK. Spirit of America Management Corp NY raised its stake in shares of Chesapeake Utilities by 60.0% in the fourth quarter. Spirit of America Management Corp NY now owns 400 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 150 shares in the last quarter. Point72 Middle East FZE acquired a new position in shares of Chesapeake Utilities in the fourth quarter valued at $48,000. NBC Securities Inc. acquired a new position in shares of Chesapeake Utilities in the third quarter valued at $52,000. Larson Financial Group LLC acquired a new position in shares of Chesapeake Utilities in the third quarter valued at $59,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Chesapeake Utilities by 59.8% in the third quarter. Tower Research Capital LLC TRC now owns 799 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 299 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Price Performance

NYSE:CPK traded down $0.20 during trading hours on Thursday, reaching $100.71. The company had a trading volume of 70,251 shares, compared to its average volume of 141,275. The stock has a 50-day moving average of $103.54 and a two-hundred day moving average of $99.79. The company has a quick ratio of 0.40, a current ratio of 0.48 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $2.24 billion, a PE ratio of 21.29 and a beta of 0.60. Chesapeake Utilities Co. has a one year low of $83.79 and a one year high of $132.91.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.53 by $0.11. The company had revenue of $185.30 million for the quarter, compared to analysts' expectations of $234.60 million. Chesapeake Utilities had a return on equity of 10.19% and a net margin of 13.01%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. Analysts forecast that Chesapeake Utilities Co. will post 5.41 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, March 14th. Chesapeake Utilities's payout ratio is presently 49.89%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on Chesapeake Utilities from $101.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, February 23rd. Royal Bank of Canada upped their price target on Chesapeake Utilities from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Finally, StockNews.com cut Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $107.00.

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.