Pitcairn Co. Grows Position in Chesapeake Utilities Co. (NYSE:CPK)

Pitcairn Co. boosted its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,767 shares of the utilities provider’s stock after acquiring an additional 150 shares during the period. Pitcairn Co.’s holdings in Chesapeake Utilities were worth $700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CPK. Versant Capital Management Inc increased its holdings in shares of Chesapeake Utilities by 2,018.2% in the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 222 shares during the last quarter. Quantbot Technologies LP bought a new stake in Chesapeake Utilities in the 4th quarter worth approximately $50,000. Smartleaf Asset Management LLC raised its holdings in shares of Chesapeake Utilities by 159.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 539 shares in the last quarter. KBC Group NV raised its holdings in shares of Chesapeake Utilities by 46.2% during the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 331 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Chesapeake Utilities during the 3rd quarter valued at approximately $182,000. 83.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

Chesapeake Utilities Stock Down 2.2 %

NYSE CPK opened at $130.49 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 52 week low of $98.32 and a 52 week high of $134.86. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 26.47 and a beta of 0.66. The company has a fifty day moving average of $125.63 and a two-hundred day moving average of $124.05.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS 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 firm had revenue of $215.00 million for the quarter, compared to analysts’ expectations of $237.84 million. During the same period in the prior year, the firm posted $1.64 earnings per share. On average, analysts predict that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities’s dividend payout ratio is currently 48.58%.

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.