Chesapeake Utilities (NYSE:CPK) CEO Sells $1,261,200.00 in Stock

Chesapeake Utilities Corporation (NYSE:CPK) CEO Jeffry 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 transaction of $1,261,200.00. Following the transaction, the chief executive officer owned 63,001 shares in the company, valued at $7,945,686.12. This represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Chesapeake Utilities Trading Down 2.3%

Chesapeake Utilities stock opened at $122.95 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.43. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 19.70 and a beta of 0.71. Chesapeake Utilities Corporation has a 1 year low of $117.64 and a 1 year high of $140.59. The firm’s 50 day moving average price is $126.90 and its two-hundred day moving average price is $128.94.

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

Chesapeake Utilities Increases Dividend

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

Hedge Funds Weigh In On Chesapeake Utilities

A number of hedge funds have recently modified their holdings of CPK. Alliancebernstein L.P. increased its stake in shares of Chesapeake Utilities by 831.0% in the third quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock worth $68,884,000 after acquiring an additional 456,497 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Chesapeake Utilities by 27.6% in the third quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock worth $128,231,000 after acquiring an additional 205,742 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Chesapeake Utilities in the third quarter worth $19,604,000. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Chesapeake Utilities by 1,395.0% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 131,022 shares of the utilities provider’s stock worth $17,647,000 after acquiring an additional 122,258 shares during the last quarter. Finally, Energy Income Partners LLC increased its stake in shares of Chesapeake Utilities by 127.6% in the third quarter. Energy Income Partners LLC now owns 169,204 shares of the utilities provider’s stock worth $22,790,000 after acquiring an additional 94,872 shares during the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About Chesapeake Utilities

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.