Bank of New York Mellon Corp Has $43.34 Million Stock Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Posted by Defense World Staff on Mar 12th, 2023

Bank of New York Mellon Corp increased its holdings in Chesapeake Utilities Co. (NYSE:CPK – Get Rating) by 0.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,611 shares of the utilities provider’s stock after purchasing an additional 146 shares during the period. Bank of New York Mellon Corp owned approximately 2.12% of Chesapeake Utilities worth $43,342,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates raised its position in Chesapeake Utilities by 2.1% in the first quarter. Raymond James & Associates now owns 3,965 shares of the utilities provider’s stock worth $546,000 after purchasing an additional 83 shares in the last quarter. Intrust Bank NA raised its position in Chesapeake Utilities by 1.4% in the second quarter. Intrust Bank NA now owns 6,270 shares of the utilities provider’s stock worth $812,000 after purchasing an additional 89 shares in the last quarter. New York State Teachers Retirement System raised its position in Chesapeake Utilities by 1.7% in the third quarter. New York State Teachers Retirement System now owns 5,857 shares of the utilities provider’s stock worth $676,000 after purchasing an additional 100 shares in the last quarter. Federated Hermes Inc. raised its position in Chesapeake Utilities by 1.2% in the second quarter. Federated Hermes Inc. now owns 12,035 shares of the utilities provider’s stock worth $1,559,000 after purchasing an additional 140 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Chesapeake Utilities by 8.6% during the third quarter. Crossmark Global Holdings Inc. now owns 1,862 shares of the utilities provider’s stock worth $215,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 74.23% of the company’s stock.

Chesapeake Utilities Stock Performance

NYSE CPK opened at $123.81 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 24.52 and a beta of 0.59. The company has a 50 day moving average of $123.34 and a 200-day moving average of $121.37. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 0.69. Chesapeake Utilities Co. has a 1-year low of $105.79 and a 1-year high of $142.76.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, March 14th. Chesapeake Utilities’s dividend payout ratio is currently 42.38%.

Insider Activity at Chesapeake Utilities

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 371 shares of Chesapeake Utilities stock in a transaction on Monday, January 30th. The shares were sold at an average price of $125.00, for a total transaction of $46,375.00. Following the completion of the sale, the insider now owns 84,557 shares of the company’s stock, valued at approximately $10,569,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CPK has been the subject of several recent analyst reports. Guggenheim raised their price objective on shares of Chesapeake Utilities from $112.00 to $116.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Chesapeake Utilities from $110.00 to $115.00 in a report on Wednesday, December 14th.

Chesapeake Utilities Company Profile

(Get Rating)

Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.