Chesapeake Utilities Corporation $CPK Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in Chesapeake Utilities Corporation (NYSE:CPK) by 45.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,739 shares of the utilities provider’s stock after selling 3,908 shares during the period. State of Alaska Department of Revenue’s holdings in Chesapeake Utilities were worth $608,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CPK. BlackRock Inc. purchased a new position in shares of Chesapeake Utilities during the 2nd quarter worth $459,185,000. Wellington Management Group LLP grew its position in shares of Chesapeake Utilities by 4.4% during the 2nd quarter. Wellington Management Group LLP now owns 939,774 shares of the utilities provider’s stock valued at $115,104,000 after acquiring an additional 39,754 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Chesapeake Utilities in the 2nd quarter worth $25,935,000. Energy Income Partners LLC purchased a new stake in shares of Chesapeake Utilities in the 2nd quarter worth $25,080,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Chesapeake Utilities in the 2nd quarter worth $19,744,000. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Stock Performance

NYSE CPK opened at $134.33 on Friday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 21.42 and a beta of 0.65. 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 business has a 50-day moving average price of $131.06 and a 200-day moving average price of $128.81. Chesapeake Utilities Corporation has a twelve month low of $118.88 and a twelve month high of $140.83.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). The business had revenue of $201.90 million for the quarter, compared to analysts’ expectations of $198.91 million. Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior 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 research analysts predict that Chesapeake Utilities Corporation will post 6.40 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 14th were paid a $0.7350 dividend. This represents a $2.94 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, September 14th. Chesapeake Utilities’s dividend payout ratio is presently 46.89%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPK. Barclays set a $134.00 target price on Chesapeake Utilities and gave the stock an “equal weight” rating in a report on Monday. Wall Street Zen downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings raised Chesapeake Utilities from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Wells Fargo & Company set a $136.00 price target on Chesapeake Utilities and gave the company an “equal weight” rating in a report on Wednesday, September 30th. Finally, Mizuho set a $150.00 price target on Chesapeake Utilities and gave the stock an “outperform” rating in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.50.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation is an energy delivery company that provides natural gas, propane, electricity and related services to residential, commercial, industrial and institutional customers. Its operations include regulated utility businesses as well as unregulated energy and infrastructure activities.

The company distributes natural gas and electricity, transports natural gas through pipeline systems, and supplies propane and other fuels. It also develops and operates energy infrastructure and provides renewable natural gas and other energy solutions through its portfolio of operating subsidiaries.

Founded in 1859, Chesapeake Utilities serves customers primarily in Delaware, Maryland, Pennsylvania, Virginia, Florida and Ohio.