Key Points
- Insider sale: Chesapeake Utilities SVP Kevin Webber sold 2,000 shares on May 20 at an average price of $127.37, totaling about $254,740. After the sale, he still owned 12,652 shares.
- Solid quarterly results: The company reported Q1 EPS of $2.47, beating estimates of $2.38, while revenue rose 18.2% year over year to $353.1 million.
- Dividend and analyst outlook: Chesapeake Utilities raised its quarterly dividend to $0.735 per share, and Wall Street’s consensus rating remains Hold with an average price target of $137.
Chesapeake Utilities Corporation (NYSE:CPK - Get Free Report) SVP Kevin Webber sold 2,000 shares of the company'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 transaction, the senior vice president owned 12,652 shares of the company's stock, valued at approximately $1,611,485.24. This represents a 13.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Chesapeake Utilities Stock Performance
Shares of Chesapeake Utilities stock opened at $126.98 on Friday. The company's 50 day moving average price is $127.26 and its two-hundred day moving average price is $129.17. The firm has a market capitalization of $3.05 billion, a P/E ratio of 20.35 and a beta of 0.71. Chesapeake Utilities Corporation has a fifty-two week low of $117.64 and a fifty-two week high of $140.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.39.
Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $339.86 million. During the same period in the prior year, the business earned $2.22 earnings per share. The company's revenue for the quarter 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. On average, equities analysts forecast that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current fiscal year.
Chesapeake Utilities Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be given a $0.735 dividend. This is a boost from Chesapeake Utilities's previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, June 15th. Chesapeake Utilities's dividend payout ratio is 43.91%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Weiss Ratings raised shares of Chesapeake Utilities from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, May 7th. Wells Fargo & Company assumed coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They issued an "equal weight" rating and a $132.00 target price for the company. Barclays set a $142.00 price target on Chesapeake Utilities and gave the stock an "equal weight" rating in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Chesapeake Utilities presently has an average rating of "Hold" and an average price target of $137.00.
Read Our Latest Stock Analysis on Chesapeake Utilities
Institutional Trading of Chesapeake Utilities
A number of hedge funds and other institutional investors have recently bought and sold shares of CPK. Argent Capital Management LLC raised its holdings in Chesapeake Utilities by 54.5% during the first quarter. Argent Capital Management LLC now owns 9,664 shares of the utilities provider's stock worth $1,221,000 after buying an additional 3,408 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Chesapeake Utilities by 24.3% during the first quarter. EverSource Wealth Advisors LLC now owns 404 shares of the utilities provider's stock worth $51,000 after acquiring an additional 79 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Chesapeake Utilities by 6.2% in the 1st quarter. California State Teachers Retirement System now owns 23,879 shares of the utilities provider's stock worth $3,018,000 after acquiring an additional 1,391 shares during the last quarter. Empowered Funds LLC boosted its stake in Chesapeake Utilities by 19.0% during the 1st quarter. Empowered Funds LLC now owns 5,183 shares of the utilities provider's stock valued at $655,000 after purchasing an additional 826 shares during the last quarter. Finally, Energy Income Partners LLC increased its holdings in Chesapeake Utilities by 1.8% during the 1st quarter. Energy Income Partners LLC now owns 173,654 shares of the utilities provider's stock worth $21,945,000 after purchasing an additional 3,083 shares in the last quarter. Institutional investors own 83.11% of the company's stock.
About Chesapeake Utilities
(
Get Free Report)
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.
Further Reading
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