Geode Capital Management LLC Boosts Stock Position in Chesapeake Utilities Corporation $CPK

Geode Capital Management LLC lifted its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 554,714 shares of the utilities provider’s stock after purchasing an additional 6,808 shares during the period. Geode Capital Management LLC owned 2.35% of Chesapeake Utilities worth $69,217,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Chesapeake Utilities by 31.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 325 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 78 shares during the period. Intrust Bank NA boosted its holdings in shares of Chesapeake Utilities by 2.2% during the fourth quarter. Intrust Bank NA now owns 4,540 shares of the utilities provider’s stock worth $566,000 after purchasing an additional 97 shares during the period. CIBC Private Wealth Group LLC boosted 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. GAMMA Investing LLC boosted its holdings in shares of Chesapeake Utilities by 5.9% during the fourth quarter. GAMMA Investing LLC now owns 2,221 shares of the utilities provider’s stock worth $277,000 after purchasing an additional 123 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in Chesapeake Utilities by 25.6% in the third quarter. Jones Financial Companies Lllp now owns 613 shares of the utilities provider’s stock worth $82,000 after buying an additional 125 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Chesapeake Utilities

In related news, CEO Jeffry M. Householder sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $126.12, for a total value of $1,261,200.00. Following the sale, the chief executive officer owned 63,001 shares in the company, valued at approximately $7,945,686.12. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin J. Webber sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $127.37, for a total transaction of $254,740.00. Following the completion of the sale, the senior vice president owned 12,652 shares in the company, valued at $1,611,485.24. This represents a 13.65% decrease in their position. The SEC filing for this sale provides additional information. 1.36% of the stock is owned by company insiders.

Chesapeake Utilities Price Performance

Shares of CPK opened at $122.28 on Tuesday. The company has a market capitalization of $2.93 billion, a P/E ratio of 19.60 and a beta of 0.69. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $126.45 and a 200 day moving average of $128.32. Chesapeake Utilities Corporation has a twelve month low of $117.64 and a twelve month high of $140.59.

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. The company had revenue of $353.10 million during the quarter, compared to the consensus estimate of $339.86 million. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. As a group, equities research analysts anticipate that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.4%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 15th. Chesapeake Utilities’s payout ratio is 43.91%.

Analyst Ratings Changes

CPK has been the subject of a number of research reports. Wall Street Zen raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Wells Fargo & Company initiated coverage on shares of Chesapeake Utilities in a research note on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 price target for the company. Barclays set a $142.00 price target on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Finally, Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Chesapeake Utilities presently has an average rating of “Hold” and an average target price of $137.00.

Chesapeake Utilities Company 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.