Yorktown Management & Research Co Inc Invests $489,000 in Chesapeake Utilities Corporation (CPK) Stock
Yorktown Management & Research Co Inc purchased a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,250 shares of the utilities provider’s stock, valued at approximately $489,000.
Other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. grew its holdings in Chesapeake Utilities Corporation by 11.9% during the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 148 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Chesapeake Utilities Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 2,663 shares of the utilities provider’s stock worth $200,000 after acquiring an additional 398 shares during the period. Pitcairn Co. bought a new stake in shares of Chesapeake Utilities Corporation during the third quarter worth approximately $201,000. Symons Capital Management Inc. bought a new stake in shares of Chesapeake Utilities Corporation during the third quarter worth approximately $223,000. Finally, Advisory Services Network LLC boosted its holdings in shares of Chesapeake Utilities Corporation by 1.2% during the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 60.48% of the company’s stock.
A number of equities research analysts have recently issued reports on CPK shares. Zacks Investment Research upgraded Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Tuesday, November 14th. BidaskClub upgraded Chesapeake Utilities Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Finally, Sidoti started coverage on Chesapeake Utilities Corporation in a report on Wednesday, October 18th. They set a “neutral” rating and a $85.00 price objective for the company. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $76.40.
Chesapeake Utilities Corporation (NYSE CPK) traded up $1.85 during midday trading on Wednesday, hitting $83.65. 52,300 shares of the stock were exchanged, compared to its average volume of 47,968. The company has a current ratio of 0.44, a quick ratio of 0.39 and a debt-to-equity ratio of 0.43. Chesapeake Utilities Corporation has a 52 week low of $63.00 and a 52 week high of $84.00. The firm has a market capitalization of $1,336.97, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 4.78 and a beta of 0.25.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a $0.325 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.55%. Chesapeake Utilities Corporation’s payout ratio is 48.33%.
Chesapeake Utilities Corporation Company Profile
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.
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