Huntington National Bank lifted its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 47.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,231 shares of the utilities provider’s stock after buying an additional 1,037 shares during the quarter. Huntington National Bank’s holdings in Chesapeake Utilities were worth $350,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Private Advisor Group LLC purchased a new stake in shares of Chesapeake Utilities in the second quarter worth approximately $26,000. AJO LP purchased a new stake in shares of Chesapeake Utilities in the third quarter worth approximately $41,000. Captrust Financial Advisors purchased a new stake in shares of Chesapeake Utilities in the second quarter worth approximately $64,000. State of Alaska Department of Revenue purchased a new stake in shares of Chesapeake Utilities in the third quarter worth approximately $109,000. Finally, Fortis Group Advisors LLC purchased a new stake in shares of Chesapeake Utilities in the third quarter worth approximately $114,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.
Shares of NYSE CPK opened at $104.55 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.30 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.83 billion, a PE ratio of 24.03 and a beta of 0.25. The stock’s fifty day simple moving average is $105.61 and its two-hundred day simple moving average is $92.05. Chesapeake Utilities Co. has a 12-month low of $69.47 and a 12-month high of $111.40.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 15th were given a dividend of $0.44 per share. The ex-dividend date was Monday, December 14th. This represents a $1.76 annualized dividend and a yield of 1.68%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.09%.
Several research analysts have commented on the company. Maxim Group raised their price objective on Chesapeake Utilities from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, November 20th. Zacks Investment Research downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Monday, January 4th. BidaskClub downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, December 23rd. Finally, Wells Fargo & Company downgraded Chesapeake Utilities from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $93.00 to $96.00 in a report on Wednesday, January 6th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $106.20.
In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $91.00, for a total transaction of $227,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 7,750 shares of company stock worth $772,343 in the last ninety days. Insiders own 3.14% of the company’s stock.
Chesapeake Utilities Company Profile
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The Regulated Energy segment engages in the distribution of natural gas in central and southern Delaware, Maryland's eastern shore, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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