Tributary Capital Management LLC Sells 4,647 Shares of Chesapeake Utilities Corporation (NYSE:CPK)

Tributary Capital Management LLC lowered its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 128,118 shares of the utilities provider's stock after selling 4,647 shares during the period. Tributary Capital Management LLC owned approximately 0.56% of Chesapeake Utilities worth $16,454,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CPK. Federated Hermes Inc. raised its position in Chesapeake Utilities by 587.1% in the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Spire Wealth Management acquired a new position in Chesapeake Utilities in the first quarter worth about $26,000. NBC Securities Inc. acquired a new position in Chesapeake Utilities in the first quarter worth about $30,000. Byrne Asset Management LLC raised its position in Chesapeake Utilities by 114.3% in the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Chesapeake Utilities by 50.7% in the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock worth $41,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock traded up $0.59 during trading hours on Friday, hitting $122.04. 133,659 shares of the stock were exchanged, compared to its average volume of 106,930. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.46. The stock has a market capitalization of $2.85 billion, a P/E ratio of 22.56 and a beta of 0.65. Chesapeake Utilities Corporation has a 12 month low of $111.00 and a 12 month high of $136.73. The business's 50-day moving average is $121.58 and its two-hundred day moving average is $124.63.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. The firm had revenue of $298.70 million for the quarter, compared to the consensus estimate of $248.45 million. During the same period in the prior year, the company posted $2.10 earnings per share. Chesapeake Utilities's quarterly revenue was up 21.6% compared to the same quarter last year. Equities research analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were paid a dividend of $0.685 per share. This is a boost from Chesapeake Utilities's previous quarterly dividend of $0.64. This represents a $2.74 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, June 16th. Chesapeake Utilities's dividend payout ratio is 50.65%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CPK shares. Barclays dropped their price target on shares of Chesapeake Utilities from $125.00 to $124.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Chesapeake Utilities Company 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.