Chesapeake Utilities Co. (NYSE:CPK) Stock Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Chesapeake Utilities Co. (NYSE:CPK) by 28.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,877 shares of the utilities provider’s stock after selling 35,839 shares during the period. Victory Capital Management Inc. owned 0.40% of Chesapeake Utilities worth $11,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Chesapeake Utilities by 180.1% in the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 407 shares in the last quarter. Assetmark Inc. grew its holdings in 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 holdings in 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. nVerses Capital LLC acquired a new stake in Chesapeake Utilities in the 3rd quarter valued at approximately $99,000. Finally, Spirit of America Management Corp NY grew its holdings 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 valued at $106,000 after buying an additional 450 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $129.05 on Thursday. 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 $2.94 billion, a PE ratio of 26.18 and a beta of 0.61. Chesapeake Utilities Co. has a 1-year low of $90.21 and a 1-year high of $130.93. The business’s 50 day moving average is $122.22 and its 200-day moving average is $115.82.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 1.98%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 51.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Barclays lifted their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report 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.