Chesapeake Utilities Co. (CPK) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Chesapeake Utilities Co. (NYSE:CPK) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 484,558 shares of the utilities provider’s stock after selling 1,281 shares during the period. Bank of New York Mellon Corp owned about 2.97% of Chesapeake Utilities worth $37,917,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Chesapeake Utilities by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 859,001 shares of the utilities provider’s stock valued at $64,383,000 after purchasing an additional 20,470 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Chesapeake Utilities by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,985 shares of the utilities provider’s stock valued at $39,348,000 after purchasing an additional 2,969 shares in the last quarter. State Street Corp boosted its holdings in shares of Chesapeake Utilities by 2.6% in the 2nd quarter. State Street Corp now owns 320,874 shares of the utilities provider’s stock valued at $24,043,000 after purchasing an additional 8,078 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Chesapeake Utilities by 21.9% in the 2nd quarter. William Blair Investment Management LLC now owns 288,803 shares of the utilities provider’s stock valued at $21,646,000 after purchasing an additional 51,898 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Chesapeake Utilities by 1.1% in the 2nd quarter. Northern Trust Corp now owns 207,114 shares of the utilities provider’s stock valued at $15,523,000 after purchasing an additional 2,255 shares in the last quarter. Hedge funds and other institutional investors own 62.16% of the company’s stock.

Shares of Chesapeake Utilities Co. (NYSE:CPK) opened at $82.35 on Friday. The company has a market capitalization of $1,350.05, a PE ratio of 30.71, a P/E/G ratio of 4.83 and a beta of 0.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.44 and a quick ratio of 0.39. Chesapeake Utilities Co. has a 12-month low of $63.00 and a 12-month high of $86.35.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.58%. Chesapeake Utilities’s payout ratio is presently 48.33%.

Several equities research analysts recently weighed in on CPK shares. Zacks Investment Research raised Chesapeake Utilities from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Tuesday, November 14th. Sidoti started coverage on Chesapeake Utilities in a research report on Wednesday, October 18th. They set a “neutral” rating and a $85.00 target price for the company. Finally, BidaskClub raised Chesapeake Utilities from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $79.25.

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About Chesapeake Utilities

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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