Harbor Capital Advisors Inc. Purchases 8,391 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Harbor Capital Advisors Inc. raised its position in Chesapeake Utilities Co. (NYSE:CPK) by 151.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,942 shares of the utilities provider’s stock after purchasing an additional 8,391 shares during the period. Harbor Capital Advisors Inc.’s holdings in Chesapeake Utilities were worth $1,731,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CPK. GAMMA Investing LLC boosted its stake in Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after buying an additional 407 shares during the period. Fifth Third Bancorp boosted its position in shares of Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 115 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Chesapeake Utilities during the third quarter worth about $99,000. Spirit of America Management Corp NY increased its position in shares of Chesapeake Utilities by 81.8% in the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 450 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in Chesapeake Utilities by 504.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,379 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 1,151 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays boosted 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.

Insider Transactions at Chesapeake Utilities

In related news, Director Paul L. Maddock, Jr. sold 9,634 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the transaction, the director now directly owns 8,363 shares in the company, valued at $949,702.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.66% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $119.89 on Wednesday. The firm has a market capitalization of $2.69 billion, a PE ratio of 25.62 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 0.91. Chesapeake Utilities Co. has a 12 month low of $83.79 and a 12 month high of $125.34. The business’s 50-day moving average price is $120.43 and its 200-day moving average price is $114.25.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The business had revenue of $166.30 million for the quarter, compared to the consensus estimate of $194.70 million. Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. Sell-side analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were given a dividend of $0.64 per share. The ex-dividend date was Monday, September 16th. This represents a $2.56 annualized dividend and a yield of 2.14%. Chesapeake Utilities’s payout ratio is 54.70%.

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.