Chesapeake Utilities (NYSE:CPK) SVP Kevin Webber Sells 2,000 Shares
by Teresa Graham · The Cerbat GemChesapeake Utilities Corporation (NYSE:CPK – Get Free Report) SVP Kevin Webber sold 2,000 shares of Chesapeake Utilities stock in a transaction that occurred 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 transaction, the senior vice president owned 12,652 shares of the company’s stock, valued at $1,611,485.24. This represents a 13.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Chesapeake Utilities Trading Up 0.0%
CPK stock opened at $126.98 on Friday. 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 fifty day moving average price of $127.26 and a two-hundred day moving average price of $129.17. Chesapeake Utilities Corporation has a one year low of $117.64 and a one year high of $140.59. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 20.35 and a beta of 0.71.
Chesapeake Utilities (NYSE:CPK – Get Free Report) last issued its quarterly earnings data 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 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 company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Equities analysts anticipate that Chesapeake Utilities Corporation will post 6.51 EPS for the current year.
Chesapeake Utilities Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued 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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, June 15th. Chesapeake Utilities’s dividend payout ratio is presently 43.91%.
Institutional Trading of Chesapeake Utilities
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in Chesapeake Utilities by 8.0% in the first quarter. Royal Bank of Canada now owns 28,886 shares of the utilities provider’s stock valued at $3,710,000 after acquiring an additional 2,139 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Chesapeake Utilities by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 6,283 shares of the utilities provider’s stock valued at $807,000 after purchasing an additional 2,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Chesapeake Utilities by 6.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,452 shares of the utilities provider’s stock valued at $1,728,000 after purchasing an additional 870 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Chesapeake Utilities by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,096 shares of the utilities provider’s stock valued at $10,158,000 after purchasing an additional 2,312 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Chesapeake Utilities by 1,714.7% during the 1st quarter. Jane Street Group LLC now owns 47,328 shares of the utilities provider’s stock worth $6,078,000 after buying an additional 44,720 shares in the last quarter. Institutional investors own 83.11% of the company’s stock.
Analyst Ratings Changes
CPK has been the subject of several research reports. Wells Fargo & Company began coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price target for the company. Wall Street Zen raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings raised shares of 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 shares of Chesapeake Utilities and gave the company 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. According to data from MarketBeat, Chesapeake Utilities currently has a consensus rating of “Hold” and a consensus target price of $137.00.
Check Out Our Latest Research Report on CPK
About Chesapeake Utilities
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.