Victory Capital Management Inc. Decreases Stake in Chesapeake Utilities Co. (NYSE:CPK)

Victory Capital Management Inc. reduced its stake in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 28.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,877 shares of the utilities provider's stock after selling 35,839 shares during the quarter. Victory Capital Management Inc. owned 0.40% of Chesapeake Utilities worth $11,036,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Chesapeake Utilities by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider's stock worth $199,471,000 after acquiring an additional 118,878 shares during the period. Copeland Capital Management LLC raised its position in Chesapeake Utilities by 9.5% during the third 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 during the period. Dimensional Fund Advisors LP lifted its holdings in Chesapeake Utilities by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider's stock valued at $51,979,000 after purchasing an additional 19,100 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Chesapeake Utilities by 9.5% in the third quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider's stock valued at $37,320,000 after purchasing an additional 26,147 shares during the period. Finally, Janus Henderson Group PLC raised its position 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 worth $29,529,000 after purchasing an additional 104,850 shares during the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Chesapeake Utilities Price Performance

Shares of CPK stock opened at $129.05 on Thursday. The firm's 50-day moving average is $122.22 and its two-hundred day moving average is $115.82. Chesapeake Utilities Co. has a 12 month low of $90.21 and a 12 month high of $130.93. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The company has a market capitalization of $2.94 billion, a PE ratio of 26.18 and a beta of 0.61.

Chesapeake Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a $0.64 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 annualized dividend and a yield of 1.98%. Chesapeake Utilities's payout ratio is 51.93%.

Chesapeake Utilities Company 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.