FourThought Financial Partners LLC Trims Position in Chesapeake Utilities Corporation $CPK

by · The Cerbat Gem

FourThought Financial Partners LLC lessened its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK – Free Report) by 42.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,500 shares of the utilities provider’s stock after selling 15,000 shares during the quarter. FourThought Financial Partners LLC owned approximately 0.09% of Chesapeake Utilities worth $2,558,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CPK. Alliancebernstein L.P. lifted its stake in shares of Chesapeake Utilities by 831.0% during the 3rd quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock worth $68,884,000 after purchasing an additional 456,497 shares during the period. Wellington Management Group LLP raised its position in shares of Chesapeake Utilities by 27.6% in the 3rd quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock worth $128,231,000 after buying an additional 205,742 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Chesapeake Utilities in the 3rd quarter worth $19,604,000. Cbre Investment Management Listed Real Assets LLC raised its position in shares of 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 buying an additional 122,258 shares during the period. Finally, Energy Income Partners LLC raised its position in shares of 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 buying an additional 94,872 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Down 0.6%

Shares of Chesapeake Utilities stock opened at $126.99 on Thursday. The business has a 50-day moving average of $127.30 and a 200-day moving average of $129.17. 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 company has a market capitalization of $3.05 billion, a PE ratio of 20.35 and a beta of 0.71. Chesapeake Utilities Corporation has a 1-year low of $117.64 and a 1-year high of $140.59.

Chesapeake Utilities (NYSE:CPK – Get Free Report) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.09. The company 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 company’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. As a group, equities analysts forecast that Chesapeake Utilities Corporation will post 6.51 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.735 per share. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, June 15th. Chesapeake Utilities’s payout ratio is 43.91%.

Analyst Ratings Changes

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

Read Our Latest Analysis on CPK

About Chesapeake Utilities

(Free Report)

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.

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