Key Points
- Chesapeake Utilities CEO Jeffry Householder sold 10,000 shares on May 21 at an average price of $126.12, totaling about $1.26 million. After the sale, he still held 63,001 shares, a 13.7% reduction in his ownership.
- The company recently beat earnings expectations, reporting $2.47 EPS versus the $2.38 consensus and revenue of $353.1 million, up 18.2% year over year.
- Chesapeake Utilities raised its quarterly dividend to $0.735 per share from $0.69, putting the annualized payout at $2.94 and the yield at about 2.3%.
Chesapeake Utilities Corporation (NYSE:CPK - Get Free Report) CEO Jeffry Householder sold 10,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $126.12, for a total value of $1,261,200.00. Following the completion of the sale, the chief executive officer owned 63,001 shares of the company's stock, valued at $7,945,686.12. This trade represents a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Chesapeake Utilities Stock Up 0.5%
Shares of Chesapeake Utilities stock opened at $127.15 on Wednesday. Chesapeake Utilities Corporation has a 1 year low of $117.64 and a 1 year high of $140.59. The business has a 50-day moving average of $127.10 and a two-hundred day moving average of $129.09. The company has a market capitalization of $3.05 billion, a P/E ratio of 20.38 and a beta of 0.71. 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 return on equity of 9.53% and a net margin of 15.11%.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 company 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. As a group, equities analysts predict that Chesapeake Utilities Corporation will post 6.51 EPS for the current year.
Chesapeake Utilities Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.3%. This is an increase from Chesapeake Utilities's previous quarterly dividend of $0.69. The ex-dividend date is Monday, June 15th. Chesapeake Utilities's dividend payout ratio is currently 47.12%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its position in Chesapeake Utilities by 292.9% during the first 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 during the last quarter. EverSource Wealth Advisors LLC boosted its position in Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Chesapeake Utilities by 66.1% during the third 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 last quarter. Hantz Financial Services Inc. boosted its position in Chesapeake Utilities by 77.4% during the third quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 130 shares during the last quarter. Finally, Entrust Financial LLC acquired a new position in Chesapeake Utilities during the fourth quarter valued at approximately $37,000. 83.11% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have issued reports on CPK shares. Wells Fargo & Company started coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They issued an "equal weight" rating and a $132.00 price target 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. Wall Street Zen upgraded Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Weiss Ratings raised Chesapeake Utilities from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, May 7th. 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.com, the stock has an average rating of "Hold" and an average target price of $137.00.
Get Our Latest Analysis on Chesapeake Utilities
Chesapeake Utilities Company Profile
(
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.
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