Phocas Financial Corp. Makes New $3.31 Million Investment in Chesapeake Utilities Corporation $CPK

Phocas Financial Corp. purchased a new stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 26,559 shares of the utilities provider’s stock, valued at approximately $3,314,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after buying an additional 108 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Chesapeake Utilities by 292.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 164 shares during the period. CIBC Private Wealth Group LLC raised its stake in Chesapeake Utilities by 66.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 109 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Chesapeake Utilities by 77.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 130 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Chesapeake Utilities during the 3rd quarter worth about $62,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Trading Down 0.1%

Shares of Chesapeake Utilities stock opened at $129.34 on Monday. The stock has a market cap of $3.10 billion, a PE ratio of 21.63 and a beta of 0.77. The firm has a fifty day moving average price of $130.32 and a 200 day moving average price of $130.46. Chesapeake Utilities Corporation has a 1 year low of $115.24 and a 1 year high of $140.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.45 and a quick ratio of 0.40.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $1.94 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.22). The business had revenue of $258.90 million during the quarter, compared to analysts’ expectations of $208.59 million. Chesapeake Utilities had a net margin of 15.09% and a return on equity of 9.31%. Chesapeake Utilities’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. Equities research analysts predict that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Monday, March 16th will be paid a $0.685 dividend. The ex-dividend date is Monday, March 16th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.1%. Chesapeake Utilities’s dividend payout ratio is presently 45.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CPK shares. Wall Street Zen raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Friday, March 27th. Finally, Barclays reiterated a “reduce” rating and issued a $140.00 target price (down from $141.00) on shares of Chesapeake Utilities in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $140.00.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.