Inceptionr LLC Acquires Shares of 2,674 Chesapeake Utilities Corporation $CPK

Inceptionr LLC bought a new position in Chesapeake Utilities Corporation (NYSE:CPK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,674 shares of the utilities provider’s stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prudential Financial Inc. grew its holdings in shares of Chesapeake Utilities by 8.4% in the second quarter. Prudential Financial Inc. now owns 24,278 shares of the utilities provider’s stock worth $3,073,000 after purchasing an additional 1,879 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Chesapeake Utilities by 433.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 2,140 shares of the utilities provider’s stock valued at $258,000 after buying an additional 1,739 shares in the last quarter. AGP Franklin LLC boosted its position in Chesapeake Utilities by 160.5% in the 2nd quarter. AGP Franklin LLC now owns 10,741 shares of the utilities provider’s stock valued at $1,291,000 after buying an additional 6,617 shares during the period. Bahl & Gaynor Inc. grew its stake in Chesapeake Utilities by 18.1% in the 2nd quarter. Bahl & Gaynor Inc. now owns 51,511 shares of the utilities provider’s stock worth $6,193,000 after acquiring an additional 7,903 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Chesapeake Utilities by 4.6% during the second quarter. Rhumbline Advisers now owns 69,981 shares of the utilities provider’s stock worth $8,413,000 after acquiring an additional 3,104 shares during the period. 83.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays set a $141.00 price target on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Wall Street Zen downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Chesapeake Utilities in a report on Wednesday. Finally, BTIG Research assumed coverage on Chesapeake Utilities in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.00.

Insider Transactions at Chesapeake Utilities

In other news, CFO Beth W. Cooper sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $132.15, for a total value of $660,750.00. Following the sale, the chief financial officer directly owned 90,713 shares in the company, valued at approximately $11,987,722.95. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffery S. Sylvester sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $137.08, for a total transaction of $137,080.00. Following the transaction, the chief operating officer owned 11,916 shares of the company’s stock, valued at approximately $1,633,445.28. This trade represents a 7.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.68% of the company’s stock.

Chesapeake Utilities Stock Performance

Shares of CPK stock opened at $139.06 on Friday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 24.79 and a beta of 0.79. Chesapeake Utilities Corporation has a 52-week low of $115.12 and a 52-week 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. The company’s 50 day moving average is $134.15 and its 200 day moving average is $126.53.

Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Thursday, November 6th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.08). Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The company had revenue of $179.60 million for the quarter, compared to the consensus estimate of $167.30 million. During the same period last year, the business posted $0.80 EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. On average, sell-side analysts anticipate that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 15th will be paid a $0.685 dividend. This represents a $2.74 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, December 15th. Chesapeake Utilities’s payout ratio is 48.50%.

Chesapeake Utilities Company Profile

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.