27,851 Shares in Chesapeake Utilities Corporation $CPK Acquired by Dean Capital Management

Dean Capital Management purchased a new stake in Chesapeake Utilities Corporation (NYSE:CPK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 27,851 shares of the utilities provider’s stock, valued at approximately $3,475,000. Chesapeake Utilities comprises 1.5% of Dean Capital Management’s portfolio, making the stock its 11th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 108 shares during the period. Geneos Wealth Management Inc. increased its holdings in Chesapeake Utilities by 292.9% in the first 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. Entrust Financial LLC bought a new position in Chesapeake Utilities during the 4th quarter worth $37,000. CIBC Private Wealth Group LLC raised its position in Chesapeake Utilities by 66.1% during the 3rd 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 last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Chesapeake Utilities during the 3rd quarter worth about $62,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Price Performance

CPK stock opened at $120.53 on Friday. 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 market cap of $2.89 billion, a price-to-earnings ratio of 19.32 and a beta of 0.69. The company’s fifty day simple moving average is $125.60 and its 200 day simple moving average is $127.46. Chesapeake Utilities Corporation has a 12-month low of $118.83 and a 12-month high of $140.59.

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

Chesapeake Utilities Increases Dividend

The firm also recently announced 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%. The ex-dividend date is Monday, June 15th. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.69. Chesapeake Utilities’s dividend payout ratio is currently 47.12%.

Insider Activity at Chesapeake Utilities

In other Chesapeake Utilities news, SVP Kevin J. Webber sold 2,000 shares of the business’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 value of $254,740.00. Following the transaction, the senior vice president directly owned 12,652 shares of the company’s stock, valued at approximately $1,611,485.24. The trade was a 13.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffry M. Householder sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $126.12, for a total value 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. The trade was a 13.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.36% of the company’s stock.

Analyst Upgrades and Downgrades

CPK has been the topic of a number of analyst reports. Wells Fargo & Company started coverage on Chesapeake Utilities in a research report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 price target on the stock. Wall Street Zen raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings cut Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Finally, Barclays set a $142.00 target price on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Monday, April 20th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.