Chesapeake Utilities (NYSE:CPK) COO Jeffery Sylvester Sells 1,000 Shares

Chesapeake Utilities Corporation (NYSE:CPK) COO Jeffery Sylvester sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $137.08, for a total value of $137,080.00. Following the sale, the chief operating officer directly owned 11,916 shares of the company’s stock, valued at $1,633,445.28. This trade represents a 7.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Chesapeake Utilities Stock Up 0.7%

CPK traded up $0.98 during midday trading on Monday, hitting $138.12. 115,806 shares of the company’s stock traded hands, compared to its average volume of 121,281. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36. The company has a market cap of $3.27 billion, a PE ratio of 24.61 and a beta of 0.79. The stock’s fifty day simple moving average is $132.85 and its 200-day simple moving average is $126.06. Chesapeake Utilities Corporation has a one year low of $115.12 and a one year high of $140.59.

Chesapeake Utilities (NYSE:CPK) last posted 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 business had revenue of $179.60 million during the quarter, compared to the consensus estimate of $167.30 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The business’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. As a group, equities analysts anticipate that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.685 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.0%. Chesapeake Utilities’s dividend payout ratio is currently 48.50%.

Hedge Funds Weigh In On Chesapeake Utilities

A number of hedge funds have recently made changes to their positions in CPK. Elevation Point Wealth Partners LLC bought a new position in shares of Chesapeake Utilities during the 2nd quarter worth about $26,000. JFS Wealth Advisors LLC raised its position in Chesapeake Utilities by 1,909.1% in the second quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 210 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 108 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 164 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Chesapeake Utilities by 66.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Analysts Set New Price Targets

CPK has been the topic of a number of recent analyst reports. Weiss Ratings raised Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Wall Street Zen downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Barclays set a $141.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Finally, BTIG Research initiated coverage on Chesapeake Utilities in a research report on Tuesday, October 21st. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $141.00.

Chesapeake Utilities Company Profile

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.