First Trust Advisors LP Sells 8,520 Shares of Chesapeake Utilities Corporation $CPK

First Trust Advisors LP lowered its holdings in Chesapeake Utilities Corporation (NYSE:CPK) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 309,029 shares of the utilities provider’s stock after selling 8,520 shares during the quarter. First Trust Advisors LP owned about 1.29% of Chesapeake Utilities worth $39,052,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CPK. EverSource Wealth Advisors LLC grew its holdings in Chesapeake Utilities by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Geneos Wealth Management Inc. raised 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 acquiring an additional 164 shares during the last quarter. Entrust Financial LLC acquired a new position in shares of Chesapeake Utilities during the fourth quarter worth approximately $37,000. CIBC Private Wealth Group LLC lifted its position in shares of Chesapeake Utilities by 66.1% during the third 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 in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Chesapeake Utilities by 133.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 487 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 278 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Stock Performance

Shares of NYSE:CPK opened at $135.81 on Tuesday. 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 1-year low of $118.83 and a 1-year high of $140.59. The stock has a market capitalization of $3.26 billion, a P/E ratio of 21.77 and a beta of 0.69. The business has a 50-day moving average price of $125.85 and a two-hundred day moving average price of $127.60.

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, beating the consensus estimate of $2.38 by $0.09. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. The company had revenue of $353.10 million for the quarter, compared to analyst estimates of $339.86 million. During the same quarter last year, the firm earned $2.22 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Equities analysts predict that Chesapeake Utilities Corporation will post 6.46 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a $0.735 dividend. The ex-dividend date of this dividend was Monday, June 15th. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a yield of 2.2%. Chesapeake Utilities’s payout ratio is 47.12%.

Insider Buying and Selling

In other Chesapeake Utilities news, SVP Kevin J. Webber sold 2,000 shares of the company’s stock in a transaction on 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 sale, the senior vice president owned 12,652 shares in the company, valued at approximately $1,611,485.24. The trade was a 13.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffry M. Householder sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 63,001 shares in the company, valued at approximately $7,945,686.12. This trade represents a 13.70% decrease in their position. The SEC filing for this sale provides additional information. 1.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CPK has been the subject of a number of research reports. Barclays set a $142.00 price target on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a report on Monday, April 20th. Wells Fargo & Company started coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price objective on the stock. Finally, Weiss Ratings upgraded Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $137.00.

Chesapeake Utilities Company 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.