Crossmark Global Holdings Inc. Purchases New Position in Chesapeake Utilities Co. (NYSE:CPK)

Crossmark Global Holdings Inc. bought a new stake in shares of Chesapeake Utilities Co. (NYSE:CPK) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 2,708 shares of the utilities provider’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Chesapeake Utilities by 180.1% in the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 407 shares during the period. Assetmark Inc. grew its stake in Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 102 shares in the last quarter. Fifth Third Bancorp increased its holdings in Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 115 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Chesapeake Utilities in the 3rd quarter valued at approximately $99,000. Finally, Spirit of America Management Corp NY boosted its stake in shares of Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after buying an additional 450 shares during the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CPK. Barclays lifted their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

Chesapeake Utilities Stock Performance

CPK stock opened at $126.97 on Monday. The stock’s 50 day simple moving average is $121.60 and its 200 day simple moving average is $115.44. Chesapeake Utilities Co. has a 12-month low of $90.21 and a 12-month high of $128.81. The firm has a market cap of $2.89 billion, a P/E ratio of 25.75 and a beta of 0.61. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.93%.

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.