Chesapeake Utilities Corporation $CPK Shares Sold by Dean Capital Management

Dean Capital Management reduced its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 39.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,867 shares of the utilities provider’s stock after selling 10,984 shares during the period. Dean Capital Management owned about 0.07% of Chesapeake Utilities worth $2,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in Chesapeake Utilities by 8.0% during the 1st quarter. Royal Bank of Canada now owns 28,886 shares of the utilities provider’s stock worth $3,710,000 after buying an additional 2,139 shares during the last quarter. AQR Capital Management LLC grew its holdings in Chesapeake Utilities by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 6,283 shares of the utilities provider’s stock worth $807,000 after buying an additional 2,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Chesapeake Utilities by 6.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,452 shares of the utilities provider’s stock worth $1,728,000 after purchasing an additional 870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Chesapeake Utilities by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,096 shares of the utilities provider’s stock valued at $10,158,000 after buying an additional 2,312 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Chesapeake Utilities by 1,714.7% during the 1st quarter. Jane Street Group LLC now owns 47,328 shares of the utilities provider’s stock valued at $6,078,000 after purchasing an additional 44,720 shares during the period. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Down 0.0%

Shares of CPK opened at $135.74 on Monday. The business’s 50-day moving average price is $125.67 and its 200 day moving average price is $127.50. The stock has a market capitalization of $3.26 billion, a P/E ratio of 21.75 and a beta of 0.69. Chesapeake Utilities Corporation has a 1-year low of $118.83 and a 1-year high of $140.59. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The company had revenue of $353.10 million during the quarter, compared to analyst estimates of $339.86 million. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Analysts expect that Chesapeake Utilities Corporation will post 6.46 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, June 15th. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.69. Chesapeake Utilities’s dividend payout ratio is presently 47.12%.

Analysts Set New Price Targets

CPK has been the subject of several research reports. Weiss Ratings upgraded shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Wells Fargo & Company began coverage on shares of Chesapeake Utilities in a report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 target price on the stock. Finally, Barclays set a $142.00 target price on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $137.00.

Insider Activity at Chesapeake Utilities

In other news, SVP Kevin J. Webber sold 2,000 shares of Chesapeake Utilities stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.37, for a total transaction of $254,740.00. Following the transaction, the senior vice president owned 12,652 shares in the company, valued at approximately $1,611,485.24. The trade was a 13.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffry M. Householder sold 10,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $126.12, for a total value of $1,261,200.00. Following the completion of the sale, the chief executive officer directly owned 63,001 shares of the company’s stock, valued at approximately $7,945,686.12. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.36% of the company’s stock.

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.