Y Intercept Hong Kong Ltd Invests $824,000 in Chesapeake Utilities Corporation $CPK

Y Intercept Hong Kong Ltd acquired a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,524 shares of the utilities provider’s stock, valued at approximately $824,000.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Chesapeake Utilities by 94.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after buying an additional 108 shares during the period. Geneos Wealth Management Inc. boosted its position 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 valued at $28,000 after acquiring an additional 164 shares during the period. Entrust Financial LLC acquired a new stake in shares of Chesapeake Utilities in the fourth quarter worth $37,000. CIBC Private Wealth Group LLC grew its stake in shares of Chesapeake Utilities by 66.1% in the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 109 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Chesapeake Utilities by 133.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 487 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 278 shares during the period. Institutional investors own 83.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company began coverage on shares of Chesapeake Utilities in a report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 price target for the company. Weiss Ratings upgraded shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Barclays set a $142.00 price objective on shares of Chesapeake Utilities and gave the company 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’s stock. Based on data from MarketBeat.com, Chesapeake Utilities presently has an average rating of “Hold” and an average target price of $137.00.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $128.92 on Monday. 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 price of $124.25 and a 200 day moving average price of $126.93. The firm has a market capitalization of $3.09 billion, a PE ratio of 20.66 and a beta of 0.69. 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 earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. The business had revenue of $353.10 million during 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%.Chesapeake Utilities’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.22 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Research analysts anticipate that Chesapeake Utilities Corporation will post 6.46 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were paid a $0.735 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.94 annualized dividend and a dividend yield of 2.3%. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.69. Chesapeake Utilities’s dividend payout ratio is presently 47.12%.

Insider Activity

In other Chesapeake Utilities news, CEO Jeffry M. Householder sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin J. Webber sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the completion of the transaction, the senior vice president owned 12,652 shares in the company, valued at approximately $1,611,485.24. This trade represents a 13.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.36% of the stock is currently owned by corporate insiders.

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.