17,200 Shares in Chesapeake Utilities Corporation $CPK Bought by Magellan Asset Management Ltd

Magellan Asset Management Ltd bought a new stake in Chesapeake Utilities Corporation (NYSE:CPK) during the second quarter, according to its most recent filing with the SEC. The firm bought 17,200 shares of the utilities provider’s stock, valued at approximately $2,107,000.

Several other institutional investors have also recently bought and sold shares of CPK. EverSource Wealth Advisors LLC boosted its holdings in Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Geneos Wealth Management Inc. increased its stake 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 worth $28,000 after purchasing an additional 164 shares during the period. Entrust Financial LLC bought a new position in shares of Chesapeake Utilities in the fourth quarter worth about $37,000. Versant Capital Management Inc increased its stake in shares of Chesapeake Utilities by 38.8% in the second quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 85 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of 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. Institutional investors own 83.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CPK shares. Wells Fargo & Company increased their target price on Chesapeake Utilities from $132.00 to $134.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Chesapeake Utilities presently has a consensus rating of “Hold” and a consensus target price of $138.00.

Chesapeake Utilities Trading Up 0.0%

Chesapeake Utilities stock opened at $134.15 on Monday. The business has a 50 day moving average price of $129.87 and a two-hundred day moving average price of $128.86. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 21.40 and a beta of 0.68. Chesapeake Utilities Corporation has a 12 month low of $118.88 and a 12 month high of $140.83.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). The firm had revenue of $201.90 million for the quarter, compared to analyst estimates of $198.91 million. Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%.Chesapeake Utilities’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 EPS. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. As a group, equities analysts forecast that Chesapeake Utilities Corporation will post 6.42 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, September 14th. This represents a $2.94 dividend on an annualized basis and a yield of 2.2%. Chesapeake Utilities’s payout ratio is currently 46.89%.

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.