Chesapeake Utilities Corporation $CPK Shares Sold by Strs Ohio

Strs Ohio reduced its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 8.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 59,800 shares of the utilities provider’s stock after selling 5,700 shares during the period. Strs Ohio’s holdings in Chesapeake Utilities were worth $7,557,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CPK. IFM Investors Pty Ltd acquired a new position in Chesapeake Utilities during the 1st quarter worth about $212,000. MQS Management LLC acquired a new position in Chesapeake Utilities in the 1st quarter valued at about $354,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in Chesapeake Utilities in the 1st quarter valued at about $411,000. Inspire Investing LLC increased its stake in Chesapeake Utilities by 39.6% during the first 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 during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Chesapeake Utilities during the first quarter worth about $1,327,000. 83.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CPK shares. Wall Street Zen raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Wells Fargo & Company started 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. Weiss Ratings lowered shares of Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. 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. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Chesapeake Utilities has an average rating of “Hold” and a consensus price target of $137.00.

Insider Buying and Selling

In related news, SVP Kevin J. Webber sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the completion of the transaction, the senior vice president owned 12,652 shares in the company, valued at approximately $1,611,485.24. The trade was a 13.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffry M. Householder sold 10,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $126.12, for a total transaction 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. The trade was a 13.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.36% of the company’s stock.

Chesapeake Utilities Price Performance

CPK stock opened at $125.14 on Monday. The business’s 50-day moving average is $124.40 and its two-hundred day moving average is $126.97. 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 firm has a market capitalization of $3.00 billion, a P/E ratio of 20.05 and a beta of 0.69. Chesapeake Utilities Corporation has a 1 year low of $118.83 and a 1 year high of $140.59.

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

Chesapeake Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders 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. The ex-dividend date is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 2.3%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 47.12%.

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.