The Manufacturers Life Insurance Company Purchases New Shares in Chesapeake Utilities Corporation $CPK

The Manufacturers Life Insurance Company purchased a new stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,527 shares of the utilities provider’s stock, valued at approximately $1,412,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Chesapeake Utilities during the second quarter valued at $459,185,000. Alliancebernstein L.P. lifted its holdings in shares of Chesapeake Utilities by 831.0% in the 3rd quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock worth $68,884,000 after acquiring an additional 456,497 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Chesapeake Utilities during the 2nd quarter worth about $25,935,000. Wellington Management Group LLP boosted its stake in shares of Chesapeake Utilities by 27.6% during the 3rd quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock worth $128,231,000 after purchasing an additional 205,742 shares during the period. Finally, Energy Income Partners LLC bought a new position in Chesapeake Utilities during the 2nd quarter valued at about $25,080,000. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Trading Up 1.0%

CPK stock opened at $132.18 on Friday. The company has a market capitalization of $3.19 billion, a PE ratio of 21.08 and a beta of 0.67. Chesapeake Utilities Corporation has a 12 month low of $118.88 and a 12 month high of $140.83. The firm’s 50-day moving average is $132.05 and its 200 day moving average is $128.99. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.32 and a quick ratio of 0.28.

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 analysts’ consensus estimates of $1.07 by ($0.02). The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $198.91 million. Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 EPS. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. On average, research analysts anticipate that Chesapeake Utilities Corporation will post 6.42 EPS for the current year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Monday, September 14th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $2.94 annualized dividend and a yield of 2.2%. Chesapeake Utilities’s dividend payout ratio is 46.89%.

Analyst Ratings Changes

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

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.