Louisiana State Employees Retirement System Invests $1.14 Million in Chesapeake Utilities Co. (NYSE:CPK)

Louisiana State Employees Retirement System acquired a new position in shares of Chesapeake Utilities Co. (NYSE:CPK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,800 shares of the utilities provider’s stock, valued at approximately $1,141,000. Louisiana State Employees Retirement System owned 0.06% of Chesapeake Utilities at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in Chesapeake Utilities in the fourth quarter worth approximately $14,227,000. Peregrine Capital Management LLC acquired a new stake in Chesapeake Utilities in the fourth quarter worth approximately $5,755,000. Copeland Capital Management LLC lifted its position in Chesapeake Utilities by 8.0% in the third quarter. Copeland Capital Management LLC now owns 539,936 shares of the utilities provider’s stock worth $52,779,000 after purchasing an additional 40,037 shares during the period. Assenagon Asset Management S.A. lifted its position in Chesapeake Utilities by 148.9% in the third quarter. Assenagon Asset Management S.A. now owns 61,790 shares of the utilities provider’s stock worth $6,040,000 after purchasing an additional 36,963 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Chesapeake Utilities in the third quarter worth approximately $2,315,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $105.67 on Wednesday. The company’s fifty day moving average is $103.69 and its two-hundred day moving average is $100.07. The company has a quick ratio of 0.40, a current ratio of 0.48 and a debt-to-equity ratio of 0.95. Chesapeake Utilities Co. has a 12-month low of $83.79 and a 12-month high of $132.91. The company has a market cap of $2.35 billion, a P/E ratio of 22.34 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.11. Chesapeake Utilities had a net margin of 13.01% and a return on equity of 10.19%. The business had revenue of $185.30 million for the quarter, compared to the consensus estimate of $234.60 million. During the same period in the prior year, the business posted $1.47 earnings per share. Chesapeake Utilities’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts expect that Chesapeake Utilities Co. will post 5.41 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 49.89%.

Analysts Set New Price Targets

Several research analysts have issued reports on CPK shares. Wells Fargo & Company upped their price target on Chesapeake Utilities from $101.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Royal Bank of Canada upped their price target on Chesapeake Utilities from $123.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, StockNews.com downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Utilities presently has a consensus rating of “Hold” and an average price target of $107.00.

Chesapeake Utilities Company Profile

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.