Chesapeake Utilities Co. (NYSE:CPK) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,258 shares of the utilities provider's stock after acquiring an additional 3,600 shares during the period. Wells Fargo & Company MN owned about 0.19% of Chesapeake Utilities worth $5,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Chesapeake Utilities by 5.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider's stock worth $35,760,000 after buying an additional 14,430 shares during the last quarter. Arizona State Retirement System increased its position in shares of Chesapeake Utilities by 1.6% during 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 in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Chesapeake Utilities by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider's stock valued at $767,000 after purchasing an additional 246 shares during the last quarter. Geode Capital Management LLC grew its stake in Chesapeake Utilities by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider's stock worth $64,157,000 after buying an additional 8,358 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Chesapeake Utilities during the 4th quarter valued at about $5,110,000. Hedge funds and other institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Stock Performance

NYSE CPK traded down $2.23 on Friday, reaching $131.34. 14,963 shares of the company's stock traded hands, compared to its average volume of 102,735. Chesapeake Utilities Co. has a fifty-two week low of $102.64 and a fifty-two week high of $136.73. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 26.63 and a beta of 0.66. The stock has a 50 day moving average price of $128.22 and a 200-day moving average price of $124.99.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.04). The company had revenue of $215.00 million during the quarter, compared to analyst estimates of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same period last year, the firm earned $1.64 EPS. Equities research analysts predict that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.95%. Chesapeake Utilities's payout ratio is 48.58%.

Analysts Set New Price Targets

CPK has been the subject of several research analyst reports. StockNews.com lowered shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Tuesday. Barclays boosted their price target on Chesapeake Utilities from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $123.00.

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.