Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 26.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,506 shares of the utilities provider's stock after selling 10,201 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Chesapeake Utilities worth $3,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Chesapeake Utilities in the 4th quarter worth $30,000. Spirit of America Management Corp NY boosted its stake in Chesapeake Utilities by 60.0% during the fourth quarter. Spirit of America Management Corp NY now owns 400 shares of the utilities provider's stock valued at $42,000 after buying an additional 150 shares during the last quarter. Signaturefd LLC increased its stake in Chesapeake Utilities by 126.1% in the 4th quarter. Signaturefd LLC now owns 398 shares of the utilities provider's stock worth $42,000 after acquiring an additional 222 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Chesapeake Utilities during the 3rd quarter worth approximately $52,000. Finally, Larson Financial Group LLC bought a new position in shares of Chesapeake Utilities during the 3rd quarter valued at approximately $59,000. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Chesapeake Utilities Trading Down 1.2 %

CPK stock traded down $1.36 during mid-day trading on Monday, reaching $110.40. The company had a trading volume of 71,548 shares, compared to its average volume of 127,780. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.46 and a quick ratio of 0.38. The firm has a 50 day moving average of $105.12 and a 200 day moving average of $101.58. The company has a market capitalization of $2.46 billion, a PE ratio of 23.48 and a beta of 0.60. Chesapeake Utilities Co. has a 12 month low of $83.79 and a 12 month high of $132.91.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $2.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.14 by ($0.04). The business had revenue of $245.70 million for the quarter, compared to analyst estimates of $260.16 million. Chesapeake Utilities had a return on equity of 10.17% and a net margin of 13.90%. The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share. On average, equities analysts predict that Chesapeake Utilities Co. will post 5.41 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, June 13th. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.59. Chesapeake Utilities's dividend payout ratio (DPR) is currently 49.58%.

Analyst Upgrades and Downgrades

Several research firms have commented on CPK. StockNews.com lowered shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Thursday, February 29th. Wells Fargo & Company upped their price objective on Chesapeake Utilities from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Chesapeake Utilities from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Chesapeake Utilities presently has a consensus rating of "Hold" and an average price target of $109.50.

Chesapeake Utilities Company 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.