Quest Partners LLC Acquires New Position in Chesapeake Utilities Co. (NYSE:CPK)

Quest Partners LLC bought a new position in Chesapeake Utilities Co. (NYSE:CPK - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,783 shares of the utilities provider's stock, valued at approximately $966,000.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Chesapeake Utilities by 42.8% during the 1st quarter. Russell Investments Group Ltd. now owns 40,720 shares of the utilities provider's stock valued at $4,369,000 after buying an additional 12,214 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Chesapeake Utilities by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider's stock worth $199,471,000 after purchasing an additional 118,878 shares during the period. UniSuper Management Pty Ltd purchased a new position in shares of Chesapeake Utilities during the 1st quarter valued at approximately $583,000. American International Group Inc. increased its holdings in shares of Chesapeake Utilities by 1.9% during the 1st quarter. American International Group Inc. now owns 11,816 shares of the utilities provider's stock valued at $1,268,000 after purchasing an additional 215 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Chesapeake Utilities by 9.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 34,511 shares of the utilities provider's stock worth $3,703,000 after buying an additional 3,018 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Trading Up 1.1 %

NYSE CPK traded up $1.37 on Thursday, reaching $130.39. 82,227 shares of the company were exchanged, compared to its average volume of 112,832. Chesapeake Utilities Co. has a fifty-two week low of $90.21 and a fifty-two week high of $130.93. The stock has a market capitalization of $2.97 billion, a P/E ratio of 26.45 and a beta of 0.61. The business's fifty day moving average price is $122.42 and its 200 day moving average price is $115.92. 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 Announces Dividend

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 issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities's dividend payout ratio is presently 51.93%.

Analysts Set New Price Targets

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