Schroder Investment Management Group Boosts Stake in Chesapeake Utilities Corporation $CPK

by · The Markets Daily

Schroder Investment Management Group increased its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPKFree Report) by 4.4% during the second quarter, HoldingsChannel reports. The fund owned 153,453 shares of the utilities provider’s stock after buying an additional 6,424 shares during the period. Schroder Investment Management Group’s holdings in Chesapeake Utilities were worth $18,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CPK. New York State Teachers Retirement System grew its stake in shares of Chesapeake Utilities by 1.8% during the 2nd quarter. New York State Teachers Retirement System now owns 5,757 shares of the utilities provider’s stock worth $692,000 after purchasing an additional 100 shares during the period. Focus Partners Advisor Solutions LLC grew its position in Chesapeake Utilities by 2.6% during the second quarter. Focus Partners Advisor Solutions LLC now owns 5,101 shares of the utilities provider’s stock worth $613,000 after buying an additional 127 shares during the period. ICW Investment Advisors LLC grew its position in Chesapeake Utilities by 1.8% during the first quarter. ICW Investment Advisors LLC now owns 7,090 shares of the utilities provider’s stock worth $911,000 after buying an additional 128 shares during the period. Cynosure Group LLC increased its holdings in Chesapeake Utilities by 5.3% in the first quarter. Cynosure Group LLC now owns 2,671 shares of the utilities provider’s stock valued at $343,000 after buying an additional 135 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Chesapeake Utilities by 2.1% during the 2nd quarter. Amalgamated Bank now owns 6,618 shares of the utilities provider’s stock valued at $796,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

CPK has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Chesapeake Utilities in a report on Wednesday, November 26th. Barclays set a $141.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a report on Tuesday, October 28th. BTIG Research initiated coverage on Chesapeake Utilities in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. Finally, Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.00.

Check Out Our Latest Stock Report on CPK

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $133.44 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.55. The firm has a market cap of $3.16 billion, a PE ratio of 23.62 and a beta of 0.79. The firm has a 50 day simple moving average of $134.31 and a 200-day simple moving average of $126.79. Chesapeake Utilities Corporation has a 1-year low of $115.12 and a 1-year high of $140.59.

Chesapeake Utilities (NYSE:CPKGet Free Report) last released its earnings results on Thursday, November 6th. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.08). The firm had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $167.30 million. Chesapeake Utilities had a return on equity of 9.03% and a net margin of 14.77%.The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. On average, equities analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 15th will be given a dividend of $0.685 per share. The ex-dividend date is Monday, December 15th. This represents a $2.74 annualized dividend and a yield of 2.1%. Chesapeake Utilities’s dividend payout ratio is 48.50%.

Insider Transactions at Chesapeake Utilities

In other news, CFO Beth W. Cooper sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $132.15, for a total transaction of $660,750.00. Following the completion of the transaction, the chief financial officer owned 90,713 shares of the company’s stock, valued at $11,987,722.95. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffery S. Sylvester sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $137.08, for a total transaction of $137,080.00. Following the completion of the sale, the chief operating officer directly owned 11,916 shares in the company, valued at $1,633,445.28. This represents a 7.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.51% of the stock is currently owned by company insiders.

Chesapeake Utilities Profile

(Free Report)

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.

See Also

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