Riverwater Partners LLC Buys Shares of 14,946 Chesapeake Utilities Co. (NYSE:CPK)

Riverwater Partners LLC acquired a new stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,946 shares of the utilities provider's stock, valued at approximately $1,826,000. Chesapeake Utilities accounts for 0.9% of Riverwater Partners LLC's investment portfolio, making the stock its 29th biggest position. Riverwater Partners LLC owned about 0.07% of Chesapeake Utilities as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in CPK. GAMMA Investing LLC lifted its holdings in shares of Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider's stock worth $67,000 after purchasing an additional 407 shares during the period. Fifth Third Bancorp lifted its stake in shares of Chesapeake Utilities by 17.7% in the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider's stock worth $81,000 after acquiring an additional 115 shares during the period. nVerses Capital LLC purchased a new stake in shares of Chesapeake Utilities in the third quarter valued at about $99,000. Spirit of America Management Corp NY increased its stake in shares of Chesapeake Utilities by 81.8% during the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider's stock worth $106,000 after acquiring an additional 450 shares during the period. Finally, Tradewinds Capital Management LLC raised its holdings in Chesapeake Utilities by 10.2% during the first quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider's stock worth $116,000 after purchasing an additional 100 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Price Performance

Shares of CPK traded down $0.40 during trading hours on Thursday, reaching $120.44. The company had a trading volume of 61,883 shares, compared to its average volume of 114,458. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 25.25 and a beta of 0.61. Chesapeake Utilities Co. has a 12-month low of $83.79 and a 12-month high of $125.34. The firm has a 50 day simple moving average of $119.75 and a 200-day simple moving average of $113.15. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.91.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The firm had revenue of $166.30 million for the quarter, compared to analysts' expectations of $194.70 million. During the same period last year, the firm earned $0.90 EPS. Chesapeake Utilities's revenue was up 22.6% compared to the same quarter last year. Research analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, September 16th. Chesapeake Utilities's dividend payout ratio (DPR) is presently 53.78%.

Analyst Ratings Changes

Separately, Barclays lifted their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the company an "equal weight" rating in a report on Monday, October 7th.

Insider Buying and Selling

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of the firm's stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the completion of the transaction, the director now directly owns 8,363 shares in the company, valued at approximately $949,702.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.68% of the company's stock.

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.