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

Assetmark Inc. boosted its holdings in Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 32.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 796 shares of the utilities provider’s stock after acquiring an additional 196 shares during the quarter. Assetmark Inc.’s holdings in Chesapeake Utilities were worth $92,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Wipfli Financial Advisors LLC purchased a new position in shares of Chesapeake Utilities in the third quarter valued at $88,000. First Horizon Advisors Inc. increased its position in shares of Chesapeake Utilities by 1,370.3% in the second quarter. First Horizon Advisors Inc. now owns 1,088 shares of the utilities provider’s stock valued at $140,000 after buying an additional 1,014 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Chesapeake Utilities in the second quarter valued at $142,000. LS Investment Advisors LLC purchased a new position in shares of Chesapeake Utilities in the second quarter valued at $150,000. Finally, Heritage Wealth Management LLC purchased a new position in shares of Chesapeake Utilities in the second quarter valued at $173,000. Hedge funds and other institutional investors own 74.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Chesapeake Utilities from $110.00 to $115.00 in a research report on Wednesday, December 14th. StockNews.com began coverage on Chesapeake Utilities in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Guggenheim decreased their price objective on Chesapeake Utilities from $136.00 to $120.00 in a research note on Monday, October 24th.

Chesapeake Utilities Stock Up 0.7 %

Shares of NYSE:CPK opened at $121.44 on Friday. The stock’s 50-day moving average price is $118.77 and its two-hundred day moving average price is $123.10. The company has a current ratio of 0.51, a quick ratio of 0.45 and a debt-to-equity ratio of 0.72. Chesapeake Utilities Co. has a 12-month low of $105.79 and a 12-month high of $142.81. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 24.99 and a beta of 0.58.

Chesapeake Utilities (NYSE:CPKGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.21). Chesapeake Utilities had a return on equity of 10.59% and a net margin of 13.21%. The business had revenue of $131.05 million during the quarter, compared to analyst estimates of $126.50 million. On average, research analysts forecast that Chesapeake Utilities Co. will post 4.86 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Wednesday, December 14th. Chesapeake Utilities’s payout ratio is 44.03%.

Insiders Place Their Bets

In other news, Director Lila A. Jaber acquired 421 shares of Chesapeake Utilities stock in a transaction dated Monday, November 28th. The shares were acquired at an average cost of $118.06 per share, with a total value of $49,703.26. Following the purchase, the director now directly owns 2,968 shares of the company’s stock, valued at approximately $350,402.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.58% of the stock is owned by corporate insiders.

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.

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

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