Systematic Financial Management LP Takes $804,000 Position in Chesapeake Utilities Co. (NYSE:CPK)

Systematic Financial Management LP bought a new stake in shares of Chesapeake Utilities Co. (NYSE:CPK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,472 shares of the utilities provider’s stock, valued at approximately $804,000.

Several other large investors have also added to or reduced their stakes in CPK. Copeland Capital Management LLC boosted its stake in Chesapeake Utilities by 9.5% during the third quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider’s stock worth $73,567,000 after acquiring an additional 51,164 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Chesapeake Utilities by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock worth $51,979,000 after purchasing an additional 19,100 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of Chesapeake Utilities by 9.5% during the 3rd quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider’s stock worth $37,320,000 after purchasing an additional 26,147 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Chesapeake Utilities by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 259,064 shares of the utilities provider’s stock valued at $32,168,000 after buying an additional 7,666 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Chesapeake Utilities by 170.5% in the 2nd quarter. Victory Capital Management Inc. now owns 124,716 shares of the utilities provider’s stock valued at $13,245,000 after buying an additional 78,613 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CPK. Guggenheim raised their price objective on 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 upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Barclays raised their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four 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 company presently has a consensus rating of “Hold” and an average target price of $123.00.

Chesapeake Utilities Stock Down 0.1 %

Shares of NYSE:CPK opened at $129.60 on Friday. The business’s 50 day moving average is $124.26 and its 200 day moving average is $117.42. Chesapeake Utilities Co. has a 12-month low of $98.25 and a 12-month high of $134.20. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 26.29 and a beta of 0.64. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is 51.93%.

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.