Riverwater Partners LLC Makes New $1.83 Million Investment in Chesapeake Utilities Co. (NYSE:CPK)

Riverwater Partners LLC bought a new stake in Chesapeake Utilities Co. (NYSE:CPK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,946 shares of the utilities provider’s stock, valued at approximately $1,826,000. Chesapeake Utilities comprises 0.9% of Riverwater Partners LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other large investors also recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in shares of Chesapeake Utilities in the third quarter valued at about $202,000. Copeland Capital Management LLC grew its position in shares of Chesapeake Utilities by 9.5% during 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. Inspire Advisors LLC bought a new position in shares of Chesapeake Utilities during the third quarter worth approximately $213,000. Trust Point Inc. raised its position in shares of Chesapeake Utilities by 3.2% in the third quarter. Trust Point Inc. now owns 4,919 shares of the utilities provider’s stock valued at $611,000 after buying an additional 153 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new stake in shares of Chesapeake Utilities in the third quarter valued at approximately $348,000. Institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their price objective 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.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $120.87 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.69 billion, a PE ratio of 25.39 and a beta of 0.61. The firm has a 50 day moving average of $119.75 and a 200-day moving average of $113.15. Chesapeake Utilities Co. has a 12 month low of $83.79 and a 12 month high of $125.34.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $194.70 million. Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. On average, equities research analysts predict 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 was paid on Monday, October 7th. Investors of record on Monday, September 16th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, September 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 53.78%.

Insider Buying and Selling at Chesapeake Utilities

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the transaction, the director now owns 8,363 shares of the company’s stock, valued at approximately $949,702.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.68% of the company’s stock.

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.