Chesapeake Utilities Co. (NYSE:CPK) Stake Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,357 shares of the utilities provider’s stock after acquiring an additional 415 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Chesapeake Utilities were worth $1,742,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CPK. Arizona State Retirement System lifted its position in shares of Chesapeake Utilities by 4.6% during the second quarter. Arizona State Retirement System now owns 6,225 shares of the utilities provider’s stock worth $661,000 after purchasing an additional 273 shares during the last quarter. Choreo LLC acquired a new position in shares of Chesapeake Utilities in the 2nd quarter worth approximately $251,000. American Century Companies Inc. increased its holdings in shares of Chesapeake Utilities by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 30,431 shares of the utilities provider’s stock valued at $3,232,000 after acquiring an additional 3,409 shares during the last quarter. BOKF NA bought a new stake in shares of Chesapeake Utilities in the 2nd quarter valued at approximately $328,000. Finally, Wealthspire Advisors LLC raised its position in shares of Chesapeake Utilities by 0.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 29,475 shares of the utilities provider’s stock valued at $3,130,000 after acquiring an additional 224 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Down 2.1 %

Chesapeake Utilities stock opened at $116.45 on Monday. The firm has a market capitalization of $2.65 billion, a P/E ratio of 23.62 and a beta of 0.65. The company has a 50-day simple moving average of $125.02 and a 200-day simple moving average of $120.08. Chesapeake Utilities Co. has a one year low of $98.25 and a one year high of $134.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 16th were paid a $0.64 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.20%. Chesapeake Utilities’s payout ratio is currently 51.93%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CPK shares. Guggenheim boosted their target price on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Barclays raised their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.00.

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.