Assetmark Inc. Boosts Holdings in Chesapeake Utilities Co. (NYSE:CPK)

Assetmark Inc. grew its position in Chesapeake Utilities Co. (NYSE:CPK) by 19.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 634 shares of the utilities provider’s stock after purchasing an additional 102 shares during the period. Assetmark Inc.’s holdings in Chesapeake Utilities were worth $79,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Chesapeake Utilities by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after purchasing an additional 118,878 shares during the period. Boston Trust Walden Corp boosted its position in shares of Chesapeake Utilities by 76.1% during the 2nd quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock worth $29,142,000 after purchasing an additional 118,561 shares during the period. Janus Henderson Group PLC boosted its position in shares of Chesapeake Utilities by 61.5% during the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock worth $29,529,000 after purchasing an additional 104,850 shares during the period. Victory Capital Management Inc. boosted its position in shares of 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 period. Finally, Energy Income Partners LLC boosted its position in shares of Chesapeake Utilities by 166.9% during the 1st quarter. Energy Income Partners LLC now owns 92,792 shares of the utilities provider’s stock worth $9,957,000 after purchasing an additional 58,019 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CPK. Barclays increased their target price on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th.

Chesapeake Utilities Price Performance

Shares of CPK opened at $129.34 on Tuesday. Chesapeake Utilities Co. has a twelve month low of $90.21 and a twelve month high of $129.54. The firm’s fifty day simple moving average is $121.83 and its 200-day simple moving average is $115.58. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 26.24 and a beta of 0.61. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be issued a $0.64 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.98%. Chesapeake Utilities’s payout ratio is 51.93%.

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.