Van ECK Associates Corp Acquires Shares of 6,077 Chesapeake Utilities Co. (NYSE:CPK)

Van ECK Associates Corp bought a new stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,077 shares of the utilities provider's stock, valued at approximately $734,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Chesapeake Utilities by 180.1% during the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider's stock valued at $67,000 after buying an additional 407 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Chesapeake Utilities by 17.7% in the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider's stock valued at $81,000 after acquiring an additional 115 shares during the period. nVerses Capital LLC acquired a new position in Chesapeake Utilities in the third quarter valued at approximately $99,000. Spirit of America Management Corp NY boosted its position in Chesapeake Utilities by 81.8% in the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider's stock worth $106,000 after purchasing an additional 450 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Chesapeake Utilities by 504.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,379 shares of the utilities provider's stock worth $146,000 after purchasing an additional 1,151 shares during the period. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK traded up $1.00 during midday trading on Tuesday, reaching $127.44. 26,943 shares of the company's stock traded hands, compared to its average volume of 113,224. The company has a fifty day simple moving average of $121.02 and a two-hundred day simple moving average of $114.87. Chesapeake Utilities Co. has a 1 year low of $85.15 and a 1 year high of $128.54. The company has a market cap of $2.86 billion, a P/E ratio of 25.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders 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 dividend yield of 2.01%. Chesapeake Utilities's dividend payout ratio (DPR) is 51.93%.

Wall Street Analyst Weigh In

CPK has been the topic of a number of recent analyst reports. StockNews.com raised shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Friday. Barclays increased 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 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.