Strs Ohio Decreases Stake in Chesapeake Utilities Corporation $CPK

Strs Ohio lessened its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,800 shares of the utilities provider’s stock after selling 5,700 shares during the quarter. Strs Ohio owned approximately 0.25% of Chesapeake Utilities worth $7,557,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CPK. Alliancebernstein L.P. lifted its stake in shares of Chesapeake Utilities by 831.0% in the third quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock worth $68,884,000 after buying an additional 456,497 shares in the last quarter. Wellington Management Group LLP raised its holdings in Chesapeake Utilities by 27.6% in the 3rd quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock valued at $128,231,000 after acquiring an additional 205,742 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Chesapeake Utilities in the 3rd quarter valued at about $19,604,000. Cbre Investment Management Listed Real Assets LLC lifted its stake in Chesapeake Utilities by 1,395.0% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 131,022 shares of the utilities provider’s stock worth $17,647,000 after purchasing an additional 122,258 shares in the last quarter. Finally, Energy Income Partners LLC lifted its stake in Chesapeake Utilities by 127.6% in the 3rd quarter. Energy Income Partners LLC now owns 169,204 shares of the utilities provider’s stock worth $22,790,000 after purchasing an additional 94,872 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Up 0.1%

Shares of NYSE CPK opened at $125.14 on Monday. The company has a 50 day simple moving average of $124.40 and a 200-day simple moving average of $126.97. The company has a market capitalization of $3.00 billion, a P/E ratio of 20.05 and a beta of 0.69. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.39. Chesapeake Utilities Corporation has a 1 year low of $118.83 and a 1 year high of $140.59.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.38 by $0.09. The firm had revenue of $353.10 million for 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 revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.22 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. On average, equities research analysts predict that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be paid a $0.735 dividend. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.3%. Chesapeake Utilities’s dividend payout ratio is currently 47.12%.

Insider Buying and Selling at Chesapeake Utilities

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

Wall Street Analysts Forecast Growth

CPK has been the subject of a number of analyst reports. Wall Street Zen upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company started coverage on Chesapeake Utilities in a research note on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price objective on the stock. Weiss Ratings cut Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Finally, Barclays set a $142.00 target price on Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $137.00.

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.