Ellevest Inc. Reduces Stock Holdings in Chesapeake Utilities Corporation $CPK

Ellevest Inc. cut its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 49.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,858 shares of the utilities provider’s stock after selling 3,790 shares during the period. Ellevest Inc.’s holdings in Chesapeake Utilities were worth $464,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its position in shares of Chesapeake Utilities by 1,909.1% during the second quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 210 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Chesapeake Utilities by 292.9% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after buying an additional 164 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Chesapeake Utilities in the first quarter worth $85,000. Belpointe Asset Management LLC purchased a new position in shares of Chesapeake Utilities in the first quarter worth $206,000. Finally, Xponance Inc. purchased a new position in shares of Chesapeake Utilities in the first quarter worth $217,000. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Performance

Chesapeake Utilities stock opened at $130.58 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36. Chesapeake Utilities Corporation has a 1-year low of $115.12 and a 1-year high of $140.59. The firm has a market capitalization of $3.07 billion, a P/E ratio of 23.28 and a beta of 0.74. The company’s 50-day moving average is $130.20 and its 200 day moving average is $125.92.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $192.80 million for the quarter, compared to analyst estimates of $182.45 million. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS. Research analysts forecast that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CPK shares. Barclays set a $141.00 target price on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. BTIG Research began coverage on Chesapeake Utilities in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $135.00.

Insider Buying and Selling

In related news, CFO Beth W. Cooper sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $132.15, for a total value of $660,750.00. Following the transaction, the chief financial officer owned 90,713 shares of the company’s stock, valued at $11,987,722.95. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.68% of the stock is owned by corporate insiders.

About Chesapeake Utilities

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.