UBS Group AG Increases Position in Chesapeake Utilities Corporation $CPK

UBS Group AG lifted its position in Chesapeake Utilities Corporation (NYSE:CPK) by 18.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,034 shares of the utilities provider’s stock after acquiring an additional 15,140 shares during the period. UBS Group AG owned 0.41% of Chesapeake Utilities worth $12,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Chesapeake Utilities by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Geneos Wealth Management Inc. raised 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 purchasing an additional 164 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Chesapeake Utilities by 66.1% during the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 109 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Chesapeake Utilities by 77.4% during the third quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 130 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Chesapeake Utilities in the third quarter valued at approximately $62,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Chesapeake Utilities in a report on Tuesday. They issued an “equal weight” rating and a $132.00 price target on the stock. Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 7th. Barclays set a $142.00 price objective on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Finally, Wall Street Zen raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $137.00.

Chesapeake Utilities Stock Up 1.0%

Shares of CPK opened at $127.69 on Friday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 20.46 and a beta of 0.71. Chesapeake Utilities Corporation has a 52 week low of $116.30 and a 52 week high of $140.59. The stock’s 50-day moving average price is $127.86 and its 200-day moving average price is $129.27. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.80.

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

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.735 per share. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.3%. Chesapeake Utilities’s payout ratio is presently 43.91%.

Chesapeake Utilities Profile

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.