Sterling Capital Management LLC Grows Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Sterling Capital Management LLC boosted its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 805.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 697 shares of the utilities provider’s stock after buying an additional 620 shares during the period. Sterling Capital Management LLC’s holdings in Chesapeake Utilities were worth $85,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Chesapeake Utilities during the fourth quarter worth about $5,110,000. Capula Management Ltd purchased a new stake in Chesapeake Utilities during the 4th quarter valued at approximately $237,000. Invesco Ltd. raised its position in shares of Chesapeake Utilities by 3.0% during the fourth quarter. Invesco Ltd. now owns 464,679 shares of the utilities provider’s stock valued at $56,389,000 after buying an additional 13,742 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Chesapeake Utilities by 587.1% in the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after buying an additional 182 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Chesapeake Utilities during the fourth quarter worth $260,000. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Performance

Shares of NYSE:CPK opened at $135.07 on Wednesday. The firm has a fifty day simple moving average of $127.76 and a two-hundred day simple moving average of $124.83. Chesapeake Utilities Co. has a 52 week low of $102.64 and a 52 week high of $136.73. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $3.11 billion, a P/E ratio of 27.40 and a beta of 0.66.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The company had revenue of $215.00 million during the quarter, compared to analysts’ expectations of $237.84 million. During the same quarter in the prior year, the business posted $1.64 EPS. On average, analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.56 annualized dividend and a yield of 1.90%. Chesapeake Utilities’s payout ratio is presently 48.58%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPK. LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities to a “strong-buy” rating in a report on Thursday, April 3rd. StockNews.com downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Barclays increased their price target on Chesapeake Utilities from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities 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.