42,109 Shares in Chesapeake Utilities Co. (NYSE:CPK) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 42,109 shares of the utilities provider's stock, valued at approximately $5,110,000. Raymond James Financial Inc. owned about 0.18% of Chesapeake Utilities at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System raised its position in Chesapeake Utilities by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the utilities provider's stock worth $1,335,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Chesapeake Utilities by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,350 shares of the utilities provider's stock worth $649,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System increased its position in Chesapeake Utilities by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider's stock worth $791,000 after purchasing an additional 103 shares during the period. Caprock Group LLC grew its position in shares of Chesapeake Utilities by 3.4% during the 4th quarter. Caprock Group LLC now owns 3,313 shares of the utilities provider's stock worth $404,000 after buying an additional 110 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Chesapeake Utilities by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 12,947 shares of the utilities provider's stock worth $1,571,000 after buying an additional 135 shares during the period. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Stock Up 0.4 %

Chesapeake Utilities stock traded up $0.50 during midday trading on Thursday, reaching $132.17. The stock had a trading volume of 10,915 shares, compared to its average volume of 103,287. Chesapeake Utilities Co. has a 12 month low of $102.64 and a 12 month high of $136.73. The company has a market capitalization of $3.04 billion, a P/E ratio of 26.92 and a beta of 0.66. The company has a fifty day moving average price of $128.84 and a two-hundred day moving average price of $125.39. 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 (NYSE:CPK - Get Free Report) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.67 by ($0.04). Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The business had revenue of $215.00 million during the quarter, compared to analysts' expectations of $237.84 million. During the same quarter in the previous year, the firm earned $1.64 EPS. As a group, equities analysts expect that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a $0.64 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.56 annualized dividend and a dividend yield of 1.94%. Chesapeake Utilities's payout ratio is currently 48.58%.

Analyst Upgrades and Downgrades

CPK has been the topic of several research reports. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research note on Tuesday, April 22nd. StockNews.com downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Tuesday, April 22nd. Finally, Barclays cut their price objective on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $122.67.

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.