Victory Capital Management Inc. Decreases Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Victory Capital Management Inc. lessened its stake in Chesapeake Utilities Co. (NYSE:CPK - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,527 shares of the utilities provider's stock after selling 9,350 shares during the period. Victory Capital Management Inc. owned 0.35% of Chesapeake Utilities worth $9,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of 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 purchasing an additional 222 shares during the period. Assetmark Inc. boosted its holdings in shares of Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider's stock valued at $79,000 after acquiring an additional 102 shares during the period. Smartleaf Asset Management LLC grew its position 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 last quarter. KBC Group NV increased its holdings in shares of Chesapeake Utilities by 46.2% in the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider's stock valued at $127,000 after acquiring an additional 331 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Chesapeake Utilities in the 3rd quarter valued at $182,000. Hedge funds and other institutional investors own 83.11% of the company's stock.

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Chesapeake Utilities Stock Performance

Shares of Chesapeake Utilities stock traded up $0.29 on Monday, reaching $127.58. 102,601 shares of the stock were exchanged, compared to its average volume of 91,724. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $2.93 billion, a PE ratio of 25.88 and a beta of 0.60. Chesapeake Utilities Co. has a 1-year low of $98.32 and a 1-year high of $134.20. The business has a fifty day moving average price of $123.56 and a two-hundred day moving average price of $123.31.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.04). Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. The business had revenue of $215.00 million during the quarter, compared to analyst estimates of $237.84 million. During the same period in the prior year, the business earned $1.64 earnings per share. As a group, research analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities's dividend payout ratio (DPR) is 48.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Guggenheim upped their price objective on Chesapeake Utilities from $118.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd.

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.