Clark Capital Management Group Inc. Purchases 45,883 Shares of Chesapeake Utilities Co. (NYSE:CPK)

Clark Capital Management Group Inc. lifted its stake in shares of Chesapeake Utilities Co. (NYSE:CPKGet Rating) by 59.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,252 shares of the utilities provider’s stock after acquiring an additional 45,883 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.70% of Chesapeake Utilities worth $16,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Hsbc Holdings PLC increased its position in shares of Chesapeake Utilities by 23.6% during the first quarter. Hsbc Holdings PLC now owns 83,997 shares of the utilities provider’s stock worth $11,638,000 after acquiring an additional 16,017 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Chesapeake Utilities by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 157,844 shares of the utilities provider’s stock worth $21,745,000 after acquiring an additional 4,275 shares during the period. First Trust Advisors LP increased its position in shares of Chesapeake Utilities by 2.7% during the first quarter. First Trust Advisors LP now owns 458,895 shares of the utilities provider’s stock worth $63,217,000 after acquiring an additional 11,909 shares during the period. Prudential Financial Inc. increased its position in shares of Chesapeake Utilities by 42.6% during the first quarter. Prudential Financial Inc. now owns 28,093 shares of the utilities provider’s stock worth $3,870,000 after acquiring an additional 8,395 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Chesapeake Utilities by 35.3% during the first quarter. Federated Hermes Inc. now owns 11,895 shares of the utilities provider’s stock worth $1,639,000 after acquiring an additional 3,105 shares during the period. 75.56% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Performance

Shares of NYSE:CPK opened at $127.72 on Friday. The firm has a market cap of $2.27 billion, a PE ratio of 25.39 and a beta of 0.58. The firm’s 50 day simple moving average is $130.66 and its 200-day simple moving average is $131.53. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.43 and a current ratio of 0.50. Chesapeake Utilities Co. has a one year low of $117.43 and a one year high of $146.30.

Chesapeake Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be issued a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, September 14th. Chesapeake Utilities’s payout ratio is 42.54%.

Insider Activity at Chesapeake Utilities

In related news, insider John R. Schimkaitis sold 2,500 shares of Chesapeake Utilities stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $129.75, for a total transaction of $324,375.00. Following the transaction, the insider now directly owns 85,516 shares of the company’s stock, valued at $11,095,701. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.58% of the stock is currently owned by corporate insiders.

About Chesapeake Utilities

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Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula and Florida; and regulated electric distribution in northeast and northwest Florida.

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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