Wells Fargo & Company MN Has $5.25 Million Stake in Chesapeake Utilities Co. (NYSE:CPK)

Wells Fargo & Company MN raised its position in Chesapeake Utilities Co. (NYSE:CPK) by 9.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,258 shares of the utilities provider’s stock after purchasing an additional 3,600 shares during the quarter. Wells Fargo & Company MN’s holdings in Chesapeake Utilities were worth $5,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

CPK has been the topic of a number of research analyst reports. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $122.67.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $135.17 on Monday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 27.42 and a beta of 0.66. The stock’s 50 day moving average is $127.29 and its 200-day moving average is $124.68. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a 12 month low of $102.64 and a 12 month high of $136.52.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data 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 net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $215.00 million during the quarter, compared to analyst estimates of $237.84 million. During the same period in the prior year, the company earned $1.64 earnings per share. Equities research analysts expect that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, March 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.58%.

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.