Chesapeake Utilities Corporation $CPK Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 49,590 shares of the utilities provider’s stock after selling 1,663 shares during the quarter. Peregrine Capital Management LLC owned 0.21% of Chesapeake Utilities worth $5,962,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CPK. Spire Wealth Management acquired a new position in shares of Chesapeake Utilities during the 1st quarter valued at $26,000. Rossby Financial LCC bought a new stake in shares of Chesapeake Utilities during the 1st quarter worth $61,000. First Horizon Advisors Inc. boosted its stake in shares of Chesapeake Utilities by 53.6% during the 1st quarter. First Horizon Advisors Inc. now owns 599 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 209 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Chesapeake Utilities during the 1st quarter worth $603,000. Finally, Mutual Advisors LLC bought a new stake in shares of Chesapeake Utilities during the 1st quarter worth $218,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CPK. Barclays set a $128.00 price objective on Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Chesapeake Utilities in a research note on Wednesday, October 8th. Finally, BTIG Research began coverage on Chesapeake Utilities in a research note on Tuesday, October 21st. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $128.50.

Insider Transactions at Chesapeake Utilities

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

Chesapeake Utilities Stock Performance

Shares of Chesapeake Utilities stock opened at $131.46 on Tuesday. The stock has a market cap of $3.09 billion, a PE ratio of 23.43 and a beta of 0.74. The business has a fifty day simple moving average of $129.49 and a 200-day simple moving average of $126.09. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. Chesapeake Utilities Corporation has a 12 month low of $115.12 and a 12 month high of $140.59.

Chesapeake Utilities (NYSE:CPK) last issued its 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. The business had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.Chesapeake Utilities’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. On average, sell-side analysts anticipate that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Investors of record on Monday, September 15th were given a dividend of $0.685 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.74 dividend on an annualized basis and a yield of 2.1%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.84%.

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.