Chesapeake Utilities Co. (NYSE:CPK) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC cut its stake in Chesapeake Utilities Co. (NYSE:CPK) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 132,971 shares of the utilities provider’s stock after selling 615 shares during the period. Tributary Capital Management LLC owned approximately 0.60% of Chesapeake Utilities worth $16,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Chesapeake Utilities by 23.8% in the fourth quarter. Vanguard Group Inc. now owns 1,740,123 shares of the utilities provider’s stock worth $183,809,000 after acquiring an additional 334,088 shares during the period. Azzad Asset Management Inc. ADV increased its position in shares of Chesapeake Utilities by 24.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,375 shares of the utilities provider’s stock worth $577,000 after purchasing an additional 1,047 shares during the last quarter. Tradewinds Capital Management LLC increased its position in shares of Chesapeake Utilities by 10.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,084 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Chesapeake Utilities by 1.7% in the 1st quarter. State of Alaska Department of Revenue now owns 13,545 shares of the utilities provider’s stock valued at $1,453,000 after buying an additional 221 shares during the period. Finally, Maryland State Retirement & Pension System lifted its position in Chesapeake Utilities by 3.5% in the first quarter. Maryland State Retirement & Pension System now owns 27,009 shares of the utilities provider’s stock valued at $2,719,000 after buying an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barclays upped 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.

Insider Activity

In other Chesapeake Utilities news, Director Paul L. Maddock, Jr. sold 9,634 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $113.56, for a total transaction of $1,094,037.04. Following the sale, the director now directly owns 8,363 shares in the company, valued at approximately $949,702.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.68% of the company’s stock.

Chesapeake Utilities Stock Up 0.4 %

Shares of NYSE:CPK opened at $120.65 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.91. Chesapeake Utilities Co. has a fifty-two week low of $83.79 and a fifty-two week high of $125.34. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 25.35 and a beta of 0.61. The firm’s 50 day moving average price is $119.98 and its 200 day moving average price is $113.47.

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

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were issued a $0.64 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.56 dividend on an annualized basis and a yield of 2.12%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 53.78%.

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.