Chesapeake Utilities Corporation $CPK Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC decreased its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 8.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 42,955 shares of the utilities provider’s stock after selling 4,150 shares during the quarter. Peregrine Capital Management LLC’s holdings in Chesapeake Utilities were worth $5,428,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. MQS Management LLC purchased a new position in shares of Chesapeake Utilities in the first quarter worth about $354,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Chesapeake Utilities during the 1st quarter valued at about $411,000. Inspire Investing LLC lifted its stake in Chesapeake Utilities by 39.6% in the 1st quarter. Inspire Investing LLC now owns 6,305 shares of the utilities provider’s stock worth $797,000 after purchasing an additional 1,789 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Chesapeake Utilities in the 1st quarter worth approximately $1,327,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in Chesapeake Utilities by 18.2% in the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 24,448 shares of the utilities provider’s stock valued at $3,089,000 after buying an additional 3,756 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Chesapeake Utilities

In other Chesapeake Utilities news, SVP Kevin J. Webber sold 2,000 shares of the company’s 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 directly owned 12,652 shares in the company, valued at $1,611,485.24. This represents a 13.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffry M. Householder sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer 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. 1.36% of the stock is currently owned by company insiders.

Chesapeake Utilities Trading Up 0.1%

NYSE CPK opened at $122.65 on Thursday. The firm’s 50-day moving average is $124.37 and its two-hundred day moving average is $127.00. Chesapeake Utilities Corporation has a 12 month low of $118.83 and a 12 month high of $140.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.39. The stock has a market capitalization of $2.94 billion, a P/E ratio of 19.66 and a beta of 0.69.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The business had revenue of $353.10 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. On average, sell-side analysts anticipate that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be issued a $0.735 dividend. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 2.4%. Chesapeake Utilities’s payout ratio is 47.12%.

Analysts Set New Price Targets

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