Clear Harbor Asset Management LLC Makes New $6.07 Million Investment in Chesapeake Utilities Corporation $CPK

Clear Harbor Asset Management LLC bought a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK) during the 2nd quarter, HoldingsChannel reports. The firm bought 49,549 shares of the utilities provider’s stock, valued at approximately $6,069,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Chesapeake Utilities during the 2nd quarter valued at $459,185,000. Alliancebernstein L.P. boosted its stake in 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 purchasing an additional 456,497 shares during the period. Bank of New York Mellon Corp bought a new position in Chesapeake Utilities in the 2nd quarter worth about $25,935,000. Wellington Management Group LLP boosted its stake in Chesapeake Utilities by 27.6% in 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 purchased 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Wells Fargo & Company upped their target price on shares of Chesapeake Utilities from $132.00 to $134.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $138.00.

Chesapeake Utilities Price Performance

Chesapeake Utilities stock opened at $134.15 on Friday. Chesapeake Utilities Corporation has a 52 week low of $118.88 and a 52 week high of $140.83. The business has a 50-day simple moving average of $129.87 and a 200 day simple moving average of $128.85. 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 stock has a market cap of $3.23 billion, a price-to-earnings ratio of 21.40 and a beta of 0.68.

Chesapeake Utilities (NYSE:CPK) last announced its earnings results 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). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%.The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $198.91 million. During the same quarter in the prior year, the company earned $1.04 earnings per share. Chesapeake Utilities’s revenue was up 4.7% compared to the same quarter last year. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. On average, research analysts forecast that Chesapeake Utilities Corporation will post 6.42 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

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

Chesapeake Utilities 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.