Riverwater Partners LLC Raises Stock Position in Chesapeake Utilities Co. (NYSE:CPK)

Riverwater Partners LLC increased its stake in shares of Chesapeake Utilities Co. (NYSE:CPK) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,325 shares of the utilities provider’s stock after acquiring an additional 5,379 shares during the quarter. Chesapeake Utilities comprises about 1.2% of Riverwater Partners LLC’s portfolio, making the stock its 14th largest holding. Riverwater Partners LLC owned approximately 0.09% of Chesapeake Utilities worth $2,466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc increased its position 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 valued at $28,000 after acquiring an additional 222 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Chesapeake Utilities during the fourth quarter worth $50,000. Smartleaf Asset Management LLC raised its stake in Chesapeake Utilities by 159.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock valued at $106,000 after buying an additional 539 shares during the last quarter. KBC Group NV boosted its stake in Chesapeake Utilities by 46.2% in the 4th quarter. KBC Group NV now owns 1,048 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 331 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Chesapeake Utilities during the third quarter valued at $182,000. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Performance

Shares of Chesapeake Utilities stock opened at $130.49 on Friday. The business has a 50-day simple moving average of $125.63 and a 200-day simple moving average of $124.05. 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 Co. has a one year low of $98.32 and a one year high of $134.86. The company has a market cap of $3.00 billion, a PE ratio of 26.47 and a beta of 0.66.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The firm had revenue of $215.00 million during the quarter, compared to analyst estimates of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same quarter in the previous year, the business posted $1.64 earnings per share. On average, equities research analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.96%. Chesapeake Utilities’s payout ratio is currently 48.58%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

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.