Riverwater Partners LLC Acquires Shares of 14,946 Chesapeake Utilities Co. (NYSE:CPK)

Riverwater Partners LLC acquired a new position in Chesapeake Utilities Co. (NYSE:CPK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,946 shares of the utilities provider’s stock, valued at approximately $1,826,000. Chesapeake Utilities comprises approximately 0.9% of Riverwater Partners LLC’s investment portfolio, making the stock its 29th largest position. Riverwater Partners LLC owned 0.07% of Chesapeake Utilities as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Wealthspire Advisors LLC boosted its stake in Chesapeake Utilities by 0.3% in the first quarter. Wealthspire Advisors LLC now owns 29,251 shares of the utilities provider’s stock valued at $3,139,000 after acquiring an additional 95 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Chesapeake Utilities by 0.8% during the first quarter. Illinois Municipal Retirement Fund now owns 12,191 shares of the utilities provider’s stock worth $1,308,000 after purchasing an additional 99 shares during the period. Tradewinds Capital Management LLC increased its holdings in Chesapeake Utilities by 10.2% in the first quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 100 shares during the last quarter. Fifth Third Bancorp increased 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 purchasing an additional 115 shares during the last quarter. Finally, Creative Planning boosted its holdings in Chesapeake Utilities by 1.8% during the third quarter. Creative Planning now owns 7,706 shares of the utilities provider’s stock worth $957,000 after buying an additional 135 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays upped their price target on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th.

Chesapeake Utilities Stock Up 0.0 %

Shares of Chesapeake Utilities stock opened at $120.87 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32. The business has a 50-day moving average of $119.75 and a two-hundred day moving average of $113.15. Chesapeake Utilities Co. has a 1 year low of $83.79 and a 1 year high of $125.34. The company has a market capitalization of $2.69 billion, a P/E ratio of 25.39 and a beta of 0.61.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The company had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. During the same quarter last year, the company earned $0.90 EPS. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts predict that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were given a dividend of $0.64 per share. The ex-dividend date was Monday, September 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.12%. Chesapeake Utilities’s dividend payout ratio is currently 53.78%.

Insider Buying and Selling

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $113.56, for a total value of $1,094,037.04. Following the sale, the director now owns 8,363 shares in the company, valued at approximately $949,702.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.68% of the stock is owned by corporate insiders.

Chesapeake Utilities 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.