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

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

A number of other hedge funds have also recently modified their holdings of the stock. Assetmark Inc. grew its position in shares of Chesapeake Utilities by 19.2% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider's stock valued at $79,000 after buying an additional 102 shares during the last quarter. Fifth Third Bancorp grew its position 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 valued at $81,000 after buying an additional 115 shares during the last quarter. Creative Planning grew its position in shares of Chesapeake Utilities by 1.8% in the 3rd quarter. Creative Planning now owns 7,706 shares of the utilities provider's stock valued at $957,000 after buying an additional 135 shares during the last quarter. Trust Point Inc. grew its position in shares of Chesapeake Utilities by 3.2% in the 3rd quarter. Trust Point Inc. now owns 4,919 shares of the utilities provider's stock valued at $611,000 after buying an additional 153 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in Chesapeake Utilities by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the utilities provider's stock worth $1,189,000 after purchasing an additional 200 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CPK shares. Barclays raised 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 raised shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research report on Friday, November 8th.

Chesapeake Utilities Trading Down 1.2 %

Shares of Chesapeake Utilities stock opened at $129.05 on Thursday. Chesapeake Utilities Co. has a 1 year low of $90.21 and a 1 year 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 company has a market capitalization of $2.94 billion, a P/E ratio of 26.18 and a beta of 0.61. The company's fifty day moving average is $122.22 and its two-hundred day moving average is $115.82.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 16th. 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.