Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 28.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,877 shares of the utilities provider's stock after selling 35,839 shares during the quarter. Victory Capital Management Inc. owned about 0.40% of Chesapeake Utilities worth $11,036,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Chesapeake Utilities by 6.8% during the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider's stock valued at $199,471,000 after purchasing an additional 118,878 shares during the period. Boston Trust Walden Corp grew its position in shares of Chesapeake Utilities by 76.1% during the second quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider's stock worth $29,142,000 after buying an additional 118,561 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Chesapeake Utilities by 61.5% during the first quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider's stock worth $29,529,000 after buying an additional 104,850 shares during the period. Energy Income Partners LLC lifted its stake in Chesapeake Utilities by 166.9% in the first 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 during the last quarter. Finally, Copeland Capital Management LLC grew its holdings in Chesapeake Utilities by 9.5% during the 3rd quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider's stock worth $73,567,000 after acquiring an additional 51,164 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPK. Barclays lifted their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. StockNews.com upgraded Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Friday, November 8th.

Chesapeake Utilities Stock Up 1.1 %

Shares of CPK stock traded up $1.37 on Thursday, hitting $130.39. The stock had a trading volume of 82,228 shares, compared to its average volume of 112,831. Chesapeake Utilities Co. has a 52-week low of $90.21 and a 52-week high of $130.93. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 26.18 and a beta of 0.61. The stock's 50 day moving average is $122.22 and its 200-day moving average is $115.82.

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.64 per share. The ex-dividend date is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 1.96%. Chesapeake Utilities's dividend payout ratio (DPR) is presently 51.93%.

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.