Mutual of America Capital Management LLC Boosts Holdings in Chesapeake Utilities Corporation $CPK

Mutual of America Capital Management LLC increased its stake in Chesapeake Utilities Corporation (NYSE:CPK) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,257 shares of the utilities provider’s stock after buying an additional 2,086 shares during the period. Mutual of America Capital Management LLC owned about 0.23% of Chesapeake Utilities worth $6,403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management bought a new stake in shares of Chesapeake Utilities in the first quarter worth $26,000. Geneos Wealth Management Inc. increased its stake in shares of Chesapeake Utilities by 292.9% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after buying an additional 164 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in shares of 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 buying an additional 210 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Chesapeake Utilities by 50.7% in the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 106 shares during the period. Finally, Rossby Financial LCC acquired a new position in Chesapeake Utilities in the first quarter worth $61,000. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $134.26 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $128.81 and its two-hundred day moving average price is $125.90. Chesapeake Utilities Corporation has a 52 week low of $115.12 and a 52 week high of $140.59. The stock has a market cap of $3.16 billion, a PE ratio of 23.93 and a beta of 0.74.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The firm had revenue of $192.80 million for the quarter, compared to analysts’ expectations of $182.45 million. During the same period in the previous year, the business earned $0.86 earnings per share. Chesapeake Utilities’s revenue for the quarter was up 15.9% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. As a group, sell-side analysts anticipate that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Monday, September 15th were issued a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, September 15th. Chesapeake Utilities’s payout ratio is presently 48.84%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CPK. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. Barclays set a $128.00 price target on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.50.

Insider Transactions at Chesapeake Utilities

In other Chesapeake Utilities news, CFO Beth W. Cooper sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $132.15, for a total transaction of $660,750.00. Following the sale, the chief financial officer owned 90,713 shares in the company, valued at approximately $11,987,722.95. The trade was a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.51% of the company’s stock.

About Chesapeake Utilities

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.