Cramer Rosenthal Mcglynn LLC Sells 2,025 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Cramer Rosenthal Mcglynn LLC reduced its position in shares of Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,323 shares of the utilities provider's stock after selling 2,025 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.27% of Chesapeake Utilities worth $7,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. grew its holdings in Chesapeake Utilities by 587.1% during the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after purchasing an additional 182 shares during the period. Versant Capital Management Inc grew 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 buying an additional 222 shares during the last quarter. Quantbot Technologies LP bought a new position in Chesapeake Utilities in the 4th quarter valued at about $50,000. Sterling Capital Management LLC lifted its position in Chesapeake Utilities by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider's stock worth $85,000 after acquiring an additional 620 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Chesapeake Utilities by 159.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider's stock worth $106,000 after acquiring an additional 539 shares during the period. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock traded down $2.28 during trading hours on Wednesday, reaching $132.89. 38,543 shares of the stock were exchanged, compared to its average volume of 102,361. The stock has a 50 day moving average of $127.76 and a two-hundred day moving average of $124.83. The company has a market cap of $3.06 billion, a P/E ratio of 26.96 and a beta of 0.66. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. Chesapeake Utilities Co. has a twelve month low of $102.64 and a twelve month high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its earnings results 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 return on equity of 9.08% and a net margin of 14.16%. The business had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. During the same quarter in the previous year, the company earned $1.64 earnings per share. Equities analysts expect that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, March 14th. Chesapeake Utilities's payout ratio is 48.58%.

Wall Street Analyst Weigh In

CPK has been the subject of a number of recent research reports. StockNews.com cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Tuesday. LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Barclays increased their price target on Chesapeake Utilities from $120.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $123.00.

About Chesapeake Utilities

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.