Kevin Webber Sells 2,000 Shares of Chesapeake Utilities (NYSE:CPK) Stock

Chesapeake Utilities Corporation (NYSE:CPK) SVP Kevin Webber sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.37, for a total value of $254,740.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Chesapeake Utilities Price Performance

CPK opened at $126.50 on Friday. The stock has a fifty day simple moving average of $127.22 and a two-hundred day simple moving average of $129.15. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 20.27 and a beta of 0.71. Chesapeake Utilities Corporation has a 12-month low of $117.64 and a 12-month high of $140.59.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. The business had revenue of $353.10 million during the quarter, compared to the consensus estimate of $339.86 million. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Research analysts predict that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, June 15th. Chesapeake Utilities’s dividend payout ratio is currently 43.91%.

Wall Street Analysts Forecast Growth

CPK has been the subject of several recent analyst reports. Wall Street Zen raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company initiated coverage on Chesapeake Utilities in a research report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 price target for the company. Weiss Ratings raised Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 7th. Finally, Barclays set a $142.00 price target on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $137.00.

Hedge Funds Weigh In On Chesapeake Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Argent Capital Management LLC lifted its stake in Chesapeake Utilities by 54.5% during the 1st quarter. Argent Capital Management LLC now owns 9,664 shares of the utilities provider’s stock valued at $1,221,000 after acquiring an additional 3,408 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Chesapeake Utilities by 24.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 404 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 79 shares during the period. California State Teachers Retirement System lifted its stake in Chesapeake Utilities by 6.2% during the 1st quarter. California State Teachers Retirement System now owns 23,879 shares of the utilities provider’s stock valued at $3,018,000 after acquiring an additional 1,391 shares during the period. Empowered Funds LLC lifted its stake in Chesapeake Utilities by 19.0% during the 1st quarter. Empowered Funds LLC now owns 5,183 shares of the utilities provider’s stock valued at $655,000 after acquiring an additional 826 shares during the period. Finally, Energy Income Partners LLC lifted its stake in Chesapeake Utilities by 1.8% during the 1st quarter. Energy Income Partners LLC now owns 173,654 shares of the utilities provider’s stock valued at $21,945,000 after acquiring an additional 3,083 shares during the period. Institutional investors own 83.11% 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.