Putnam Investments LLC Sells 186 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Putnam Investments LLC trimmed its stake in Chesapeake Utilities Co. (NYSE:CPK – Get Rating) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,384 shares of the utilities provider’s stock after selling 186 shares during the period. Putnam Investments LLC’s holdings in Chesapeake Utilities were worth $1,199,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CPK. JPMorgan Chase & Co. lifted its stake in shares of Chesapeake Utilities by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 111,072 shares of the utilities provider’s stock valued at $15,301,000 after purchasing an additional 20,416 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Chesapeake Utilities by 2.1% during the 1st quarter. Raymond James & Associates now owns 3,965 shares of the utilities provider’s stock worth $546,000 after acquiring an additional 83 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Chesapeake Utilities by 8.3% during the 1st quarter. Citigroup Inc. now owns 15,453 shares of the utilities provider’s stock worth $2,130,000 after acquiring an additional 1,186 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Chesapeake Utilities by 3.6% during the 1st quarter. Bank of Montreal Can now owns 12,012 shares of the utilities provider’s stock worth $1,667,000 after acquiring an additional 413 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Chesapeake Utilities by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 9,373 shares of the utilities provider’s stock worth $1,291,000 after acquiring an additional 3,402 shares during the last quarter. 74.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 371 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $125.00, for a total transaction of $46,375.00. Following the transaction, the insider now directly owns 84,557 shares in the company, valued at approximately $10,569,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Chesapeake Utilities from $110.00 to $115.00 in a research note on Wednesday, December 14th. Guggenheim raised their price target on Chesapeake Utilities from $112.00 to $116.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 8th.

Chesapeake Utilities Trading Down 0.5 %

CPK opened at $123.20 on Tuesday. The stock’s fifty day moving average is $123.34 and its two-hundred day moving average is $121.29. The company has a market capitalization of $2.19 billion, a P/E ratio of 24.40 and a beta of 0.59. Chesapeake Utilities Co. has a 52 week low of $105.79 and a 52 week high of $142.39. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 0.69.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.14 annualized dividend and a yield of 1.74%. Chesapeake Utilities’s payout ratio is currently 42.38%.

Chesapeake Utilities Profile

(Get Rating)

Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.