KLP Kapitalforvaltning AS Acquires New Stake in Chesapeake Utilities Co. (NYSE:CPK)

KLP Kapitalforvaltning AS acquired a new position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,500 shares of the utilities provider's stock, valued at approximately $1,036,000.

A number of other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Chesapeake Utilities by 2,018.2% in the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 222 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Chesapeake Utilities during the fourth quarter worth $50,000. Smartleaf Asset Management LLC boosted its position in shares of Chesapeake Utilities by 159.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock valued at $106,000 after acquiring an additional 539 shares during the period. KBC Group NV grew its stake in shares of Chesapeake Utilities by 46.2% in the fourth quarter. KBC Group NV now owns 1,048 shares of the utilities provider's stock valued at $127,000 after acquiring an additional 331 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Chesapeake Utilities during the third quarter worth about $182,000. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Price Performance

NYSE:CPK traded up $3.52 on Thursday, hitting $133.42. The company had a trading volume of 218,899 shares, compared to its average volume of 96,797. Chesapeake Utilities Co. has a 52 week low of $98.32 and a 52 week high of $134.20. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 27.06 and a beta of 0.66. The firm has a 50 day moving average of $125.44 and a two-hundred day moving average of $124.00.

Remove Ads

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The firm had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. During the same period last year, the business earned $1.64 EPS. On average, research analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities's dividend payout ratio is currently 48.58%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research report on Friday, March 7th.

Chesapeake Utilities 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.