Intech Investment Management LLC Purchases New Position in Chesapeake Utilities Co. (NYSE:CPK)

Intech Investment Management LLC acquired a new stake in shares of Chesapeake Utilities Co. (NYSE:CPK) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 3,875 shares of the utilities provider’s stock, valued at approximately $481,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CPK. Copeland Capital Management LLC boosted its stake in Chesapeake Utilities by 9.5% in the 3rd quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider’s stock worth $73,567,000 after purchasing an additional 51,164 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chesapeake Utilities by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider’s stock valued at $51,979,000 after purchasing an additional 19,100 shares in the last quarter. Boston Trust Walden Corp increased its stake in Chesapeake Utilities by 9.5% during the 3rd quarter. Boston Trust Walden Corp now owns 300,552 shares of the utilities provider’s stock worth $37,320,000 after buying an additional 26,147 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Chesapeake Utilities by 170.5% during the 2nd quarter. Victory Capital Management Inc. now owns 124,716 shares of the utilities provider’s stock worth $13,245,000 after purchasing an additional 78,613 shares during the last quarter. Finally, Curi RMB Capital LLC lifted its stake in Chesapeake Utilities by 1.0% in the 3rd quarter. Curi RMB Capital LLC now owns 106,915 shares of the utilities provider’s stock worth $13,276,000 after purchasing an additional 1,090 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Down 0.0 %

CPK stock opened at $131.75 on Monday. The company has a 50 day moving average price of $123.50 and a two-hundred day moving average price of $116.85. Chesapeake Utilities Co. has a one year low of $91.45 and a one year high of $134.20. The stock has a market capitalization of $3.00 billion, a P/E ratio of 26.72 and a beta of 0.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio is presently 51.93%.

Analyst Upgrades and Downgrades

CPK has been the topic of a number of research analyst reports. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. 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 report on Friday, November 22nd. Finally, Barclays upped their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $123.00.

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.