Principal Financial Group Inc. Sells 2,930 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Principal Financial Group Inc. decreased its position in shares of Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,228 shares of the utilities provider’s stock after selling 2,930 shares during the quarter. Principal Financial Group Inc.’s holdings in Chesapeake Utilities were worth $15,317,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Chesapeake Utilities by 100.0% during the 2nd quarter. Assetmark Inc. now owns 600 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 300 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Chesapeake Utilities by 1,370.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,088 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 1,014 shares during the last quarter. Gradient Investments LLC bought a new position in Chesapeake Utilities during the 2nd quarter worth approximately $142,000. LS Investment Advisors LLC bought a new position in Chesapeake Utilities during the 2nd quarter worth approximately $150,000. Finally, KBC Group NV bought a new position in Chesapeake Utilities during the 2nd quarter worth approximately $197,000. Institutional investors own 75.56% of the company’s stock.

Insider Buying and Selling at Chesapeake Utilities

In related news, CEO Jeffry M. Householder sold 3,200 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $129.62, for a total value of $414,784.00. Following the sale, the chief executive officer now owns 39,055 shares in the company, valued at approximately $5,062,309.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.58% of the company’s stock.

Chesapeake Utilities Trading Up 0.5 %

NYSE CPK opened at $119.17 on Thursday. Chesapeake Utilities Co. has a 52 week low of $105.79 and a 52 week high of $146.30. The business has a 50 day moving average price of $118.53 and a 200-day moving average price of $125.67. The company has a quick ratio of 0.45, a current ratio of 0.51 and a debt-to-equity ratio of 0.72. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 24.52 and a beta of 0.61.

Chesapeake Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.14 annualized dividend and a yield of 1.80%. Chesapeake Utilities’s payout ratio is 44.03%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Chesapeake Utilities from $118.00 to $110.00 and set an “underweight” rating for the company in a report on Friday, November 4th. Guggenheim cut their target price on shares of Chesapeake Utilities from $136.00 to $120.00 in a research note on Monday, October 24th. Finally, StockNews.com started coverage on shares of Chesapeake Utilities in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Chesapeake Utilities Company Profile

(Get Rating)

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula and Florida; and regulated electric distribution in northeast and northwest Florida.

See Also

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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