Jennison Associates LLC Trims Stake in Chesapeake Utilities Co. (NYSE:CPK)

Jennison Associates LLC cut its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 482,289 shares of the utilities provider’s stock after selling 19,072 shares during the period. Jennison Associates LLC owned 2.15% of Chesapeake Utilities worth $59,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CPK. Vanguard Group Inc. raised its holdings in Chesapeake Utilities by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after purchasing an additional 118,878 shares during the period. Boston Trust Walden Corp lifted its position in shares of Chesapeake Utilities by 76.1% during the 2nd quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock valued at $29,142,000 after buying an additional 118,561 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Chesapeake Utilities by 61.5% during the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock valued at $29,529,000 after acquiring an additional 104,850 shares during the period. Victory Capital Management Inc. grew its stake 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 acquiring an additional 78,613 shares during the period. Finally, Energy Income Partners LLC increased its holdings in Chesapeake Utilities by 166.9% in the 1st quarter. Energy Income Partners LLC now owns 92,792 shares of the utilities provider’s stock worth $9,957,000 after acquiring an additional 58,019 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Down 1.2 %

NYSE CPK opened at $129.05 on Thursday. 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 Co. has a 12 month low of $90.21 and a 12 month high of $130.93. The stock’s 50 day moving average is $122.22 and its 200 day moving average is $115.82. The stock has a market cap of $2.94 billion, a PE ratio of 26.18 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. Investors of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.98%. Chesapeake Utilities’s dividend payout ratio is 51.93%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

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.