Chesapeake Utilities (NYSE:CPK) CEO Jeffry Householder Sells 7,500 Shares

Chesapeake Utilities Corporation (NYSE:CPK) CEO Jeffry Householder sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $126.74, for a total value of $950,550.00. Following the sale, the chief executive officer owned 64,416 shares of the company’s stock, valued at $8,164,083.84. This trade represents a 10.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock traded up $0.48 during midday trading on Thursday, reaching $128.90. The company’s stock had a trading volume of 102,641 shares, compared to its average volume of 122,632. The stock’s 50 day simple moving average is $132.68 and its 200 day simple moving average is $127.17. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.55 and a current ratio of 0.62. The firm has a market capitalization of $3.05 billion, a PE ratio of 22.81 and a beta of 0.79. Chesapeake Utilities Corporation has a fifty-two week low of $115.12 and a fifty-two week high of $140.59.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). The business had revenue of $179.60 million for 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 company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. On average, equities research analysts forecast that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

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

Institutional Investors Weigh In On Chesapeake Utilities

Several institutional investors and 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 in the second quarter worth about $26,000. Geneos Wealth Management Inc. boosted its stake in shares of Chesapeake Utilities by 292.9% in the 1st 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 during the last quarter. JFS Wealth Advisors LLC boosted its stake 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 valued at $27,000 after acquiring an additional 210 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Chesapeake Utilities by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 108 shares during the period. Finally, CIBC Private Wealth Group LLC lifted 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CPK shares. Wall Street Zen upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Monday. BTIG Research started coverage on shares of Chesapeake Utilities in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Finally, Barclays set a $141.00 price objective on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.00.

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.