44,947 Shares in Chesapeake Utilities Co. (NYSE:CPK) Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new position in shares of Chesapeake Utilities Co. (NYSE:CPK) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 44,947 shares of the utilities provider’s stock, valued at approximately $4,748,000. Wedge Capital Management L L P NC owned approximately 0.25% of Chesapeake Utilities as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new stake in shares of Chesapeake Utilities during the fourth quarter valued at approximately $1,060,000. Strs Ohio increased its position in shares of Chesapeake Utilities by 83.7% during the fourth quarter. Strs Ohio now owns 81,200 shares of the utilities provider’s stock valued at $8,577,000 after purchasing an additional 37,000 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in Chesapeake Utilities in the fourth quarter valued at $1,078,000. Tributary Capital Management LLC grew its position in Chesapeake Utilities by 11.7% in the fourth quarter. Tributary Capital Management LLC now owns 122,322 shares of the utilities provider’s stock valued at $12,921,000 after acquiring an additional 12,764 shares during the period. Finally, CTC Alternative Strategies Ltd. bought a new stake in Chesapeake Utilities in the fourth quarter valued at $216,000. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $106.89 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.40 and a current ratio of 0.48. The firm has a market cap of $2.38 billion, a P/E ratio of 22.60 and a beta of 0.60. The business’s fifty day moving average is $103.69 and its two-hundred day moving average is $100.07. Chesapeake Utilities Co. has a 52 week low of $83.79 and a 52 week high of $132.91.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.11. The company had revenue of $185.30 million for the quarter, compared to analyst estimates of $234.60 million. Chesapeake Utilities had a return on equity of 10.19% and a net margin of 13.01%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 earnings per share. Equities research analysts forecast that Chesapeake Utilities Co. will post 5.41 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, March 14th. Chesapeake Utilities’s dividend payout ratio is currently 49.89%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Royal Bank of Canada upped their price target on Chesapeake Utilities from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Wells Fargo & Company upped their price target on Chesapeake Utilities from $101.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Finally, StockNews.com cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $107.00.

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.