Cynosure Group LLC Decreases Stake in Chesapeake Utilities Co. (NYSE:CPK)

Cynosure Group LLC lessened its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 15.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,952 shares of the utilities provider’s stock after selling 556 shares during the quarter. Cynosure Group LLC’s holdings in Chesapeake Utilities were worth $367,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CPK. Vanguard Group Inc. grew its holdings in shares of Chesapeake Utilities by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock valued at $199,471,000 after purchasing an additional 118,878 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of Chesapeake Utilities by 76.1% in the 2nd quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock worth $29,142,000 after buying an additional 118,561 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Chesapeake Utilities by 170.5% during 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. Copeland Capital Management LLC lifted its holdings in shares of Chesapeake Utilities by 9.5% in the 3rd quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider’s stock valued at $73,567,000 after acquiring an additional 51,164 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in Chesapeake Utilities in the second quarter worth about $3,834,000. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of CPK stock opened at $131.78 on Friday. The stock has a 50 day moving average price of $123.13 and a 200 day moving average price of $116.55. Chesapeake Utilities Co. has a 52-week low of $91.17 and a 52-week 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. The firm has a market capitalization of $3.00 billion, a P/E ratio of 26.73 and a beta of 0.61.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is currently 51.93%.

Wall Street Analyst Weigh In

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

About Chesapeake Utilities

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.