Resona Asset Management Co. Ltd. Purchases New Position in Chesapeake Utilities Corporation $CPK

Resona Asset Management Co. Ltd. purchased a new stake in Chesapeake Utilities Corporation (NYSE:CPK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,375 shares of the utilities provider’s stock, valued at approximately $526,000.

A number of other institutional investors also recently made changes to their positions in CPK. JFS Wealth Advisors LLC grew its position 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 valued at $27,000 after purchasing an additional 210 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in 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 period. New Age Alpha Advisors LLC acquired a new position in Chesapeake Utilities in the 1st quarter valued at $85,000. Belpointe Asset Management LLC acquired a new position in Chesapeake Utilities in the 1st quarter valued at $206,000. Finally, Xponance Inc. bought a new position in Chesapeake Utilities during the 1st quarter worth $217,000. Institutional investors own 83.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays set a $141.00 price target on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Wall Street Zen downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday. BTIG Research initiated coverage on shares of Chesapeake Utilities in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Chesapeake Utilities has an average rating of “Hold” and an average target price of $135.00.

Chesapeake Utilities Stock Up 1.3%

NYSE CPK opened at $135.18 on Wednesday. The business has a fifty day moving average price of $131.08 and a two-hundred day moving average price of $125.90. The stock has a market capitalization of $3.18 billion, a PE ratio of 24.10 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. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The business had revenue of $179.60 million for the quarter, compared to analyst estimates of $167.30 million. During the same period last year, the firm posted $0.80 EPS. Chesapeake Utilities’s quarterly revenue was up 12.1% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. Equities analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 15th will be issued a $0.685 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.0%. Chesapeake Utilities’s dividend payout ratio is 48.50%.

Insider Buying and Selling at Chesapeake Utilities

In other news, CFO Beth W. Cooper sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $132.15, for a total value of $660,750.00. Following the sale, the chief financial officer directly owned 90,713 shares in the company, valued at approximately $11,987,722.95. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.68% of the company’s stock.

Chesapeake Utilities Profile

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.