Inspire Investing LLC Purchases 2,728 Shares of Chesapeake Utilities Corporation $CPK

Inspire Investing LLC lifted its position in Chesapeake Utilities Corporation (NYSE:CPK) by 84.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,960 shares of the utilities provider’s stock after purchasing an additional 2,728 shares during the period. Inspire Investing LLC’s holdings in Chesapeake Utilities were worth $716,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Chesapeake Utilities by 2.7% in the first quarter. Principal Financial Group Inc. now owns 113,431 shares of the utilities provider’s stock worth $14,568,000 after purchasing an additional 2,989 shares during the last quarter. Spire Wealth Management bought a new position in shares of Chesapeake Utilities in the first quarter worth approximately $26,000. Fifth Third Bancorp grew its holdings in shares of Chesapeake Utilities by 28.8% in the first quarter. Fifth Third Bancorp now owns 864 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 193 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Chesapeake Utilities by 57.4% in the first quarter. Voya Investment Management LLC now owns 16,048 shares of the utilities provider’s stock worth $2,061,000 after purchasing an additional 5,855 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Chesapeake Utilities in the first quarter worth approximately $512,000. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $137.58 on Monday. The stock has a market cap of $3.24 billion, a P/E ratio of 24.52 and a beta of 0.74. The firm’s fifty day simple moving average is $127.35 and its 200 day simple moving average is $125.74. Chesapeake Utilities Corporation has a twelve month low of $115.12 and a twelve month high of $140.59. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $192.80 million for the quarter, compared to analysts’ expectations of $182.45 million. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. As a group, research analysts predict that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Monday, September 15th were given a dividend of $0.685 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.74 annualized dividend and a yield of 2.0%. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 48.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays cut their target price on shares of Chesapeake Utilities from $124.00 to $120.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Chesapeake Utilities has an average rating of “Moderate Buy” and a consensus target price of $124.50.

Insider Buying and Selling

In other Chesapeake Utilities news, CFO Beth W. Cooper sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $132.15, for a total transaction of $660,750.00. Following the completion of the transaction, the chief financial officer owned 90,713 shares of the company’s stock, valued at approximately $11,987,722.95. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.51% of the company’s stock.

About Chesapeake Utilities

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.