Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in shares of Chesapeake Utilities Co. (NYSE:CPK) by 0.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,826 shares of the utilities provider’s stock after selling 483 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Chesapeake Utilities were worth $6,532,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc raised its holdings in Chesapeake Utilities by 2,018.2% during the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 222 shares in the last quarter. Assetmark Inc. boosted its stake 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 buying an additional 102 shares in the last quarter. nVerses Capital LLC acquired a new position in Chesapeake Utilities during the third quarter worth $99,000. GAMMA Investing LLC raised its position in Chesapeake Utilities by 64.0% in the third quarter. GAMMA Investing LLC now owns 1,038 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 405 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Chesapeake Utilities in the third quarter valued at $182,000. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CPK. Guggenheim raised their price objective on shares of Chesapeake Utilities from $118.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays boosted their price target on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.00.

Chesapeake Utilities Trading Up 0.5 %

Shares of Chesapeake Utilities stock opened at $124.02 on Friday. The business has a 50 day moving average price of $124.93 and a 200 day moving average price of $120.47. The company has a market capitalization of $2.83 billion, a P/E ratio of 25.16 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. Chesapeake Utilities Co. has a 1 year low of $98.25 and a 1 year high of $134.20.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 16th were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is presently 51.93%.

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.