Chesapeake Utilities Corporation $CPK Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its stake in Chesapeake Utilities Corporation (NYSE:CPK) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,955 shares of the utilities provider’s stock after selling 4,150 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.18% of Chesapeake Utilities worth $5,428,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake 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 worth $27,000 after purchasing an additional 108 shares during the period. Geneos Wealth Management Inc. increased 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 purchasing an additional 164 shares in the last quarter. Entrust Financial LLC acquired a new position in shares of Chesapeake Utilities in the 4th quarter valued at $37,000. CIBC Private Wealth Group LLC lifted its stake in shares of Chesapeake Utilities by 66.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 109 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in Chesapeake Utilities by 133.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 487 shares of the utilities provider’s stock worth $61,000 after buying an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Price Performance

Shares of NYSE CPK opened at $122.65 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.43. The firm has a fifty day moving average of $124.37 and a 200 day moving average of $127.00. The firm has a market cap of $2.94 billion, a PE ratio of 19.66 and a beta of 0.69. Chesapeake Utilities Corporation has a one year low of $118.83 and a one year high of $140.59.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data 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 business had revenue of $353.10 million for the quarter, compared to the consensus estimate of $339.86 million. During the same period last year, the firm posted $2.22 earnings per share. The company’s revenue was up 18.2% compared to the same quarter last year. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. As a group, research 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. Investors of record on Monday, June 15th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, June 15th. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.69. Chesapeake Utilities’s payout ratio is presently 47.12%.

Insider Activity

In other Chesapeake Utilities news, SVP Kevin J. Webber sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffry M. Householder sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 63,001 shares of the company’s stock, valued at $7,945,686.12. The trade was a 13.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Wells Fargo & Company initiated coverage on shares of Chesapeake Utilities in a research report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 price objective for the company. Weiss Ratings lowered shares of Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Finally, Barclays set a $142.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.