Chesapeake Utilities (NYSE:CPK) SVP Sells $254,740.00 in Stock

Chesapeake Utilities Corporation (NYSE:CPK) SVP Kevin Webber sold 2,000 shares of the firm’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 sale, the senior vice president owned 12,652 shares of the company’s stock, valued at approximately $1,611,485.24. This represents a 13.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Chesapeake Utilities Stock Up 0.0%

NYSE:CPK traded up $0.03 on Thursday, reaching $126.98. 115,333 shares of the stock traded hands, compared to its average volume of 137,053. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 20.35 and a beta of 0.71. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80. Chesapeake Utilities Corporation has a 12 month low of $117.64 and a 12 month high of $140.59. The company’s fifty day simple moving average is $127.30 and its 200 day simple moving average is $129.17.

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

Chesapeake Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.735 per share. The ex-dividend date is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a yield of 2.3%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. Chesapeake Utilities’s dividend payout ratio (DPR) is 43.91%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CPK. Barclays set a $142.00 price objective on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Monday, April 20th. Wells Fargo & Company began coverage on shares of Chesapeake Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price target on the stock. Wall Street Zen raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $137.00.

Institutional Trading of Chesapeake Utilities

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Chesapeake Utilities by 292.9% during the 1st 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 last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Chesapeake Utilities by 94.7% during the 2nd 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 last quarter. CIBC Private Wealth Group LLC boosted its holdings 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 buying an additional 109 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Chesapeake Utilities by 77.4% in the third quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider’s stock worth $40,000 after buying an additional 130 shares during the last quarter. Finally, Entrust Financial LLC purchased a new position in shares of Chesapeake Utilities in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.

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.