Hennessy Advisors Inc. Increases Stock Position in Chesapeake Utilities Corporation $CPK

Hennessy Advisors Inc. grew its holdings in Chesapeake Utilities Corporation (NYSE:CPK) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,558 shares of the utilities provider’s stock after purchasing an additional 1,500 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.13% of Chesapeake Utilities worth $3,553,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Chesapeake Utilities by 3.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,396 shares of the utilities provider’s stock valued at $533,000 after buying an additional 153 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Chesapeake Utilities in the first quarter worth $30,000. Farther Finance Advisors LLC lifted its position in shares of Chesapeake Utilities by 50.7% in the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 106 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Chesapeake Utilities by 7.1% during the first quarter. Harbor Capital Advisors Inc. now owns 15,378 shares of the utilities provider’s stock valued at $1,975,000 after acquiring an additional 1,021 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Chesapeake Utilities during the 1st quarter worth about $512,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPK has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Chesapeake Utilities from $124.00 to $120.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $124.50.

Chesapeake Utilities Stock Up 1.8%

Shares of NYSE:CPK opened at $136.80 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.83. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 24.39 and a beta of 0.74. The stock’s 50-day moving average price is $125.59 and its two-hundred day moving average price is $125.28. Chesapeake Utilities Corporation has a 12-month low of $115.12 and a 12-month high of $137.28.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The company had revenue of $192.80 million during the quarter, compared to the consensus estimate of $182.45 million. During the same quarter in the prior year, the company posted $0.86 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. On average, research analysts forecast that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be issued a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, September 15th. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.84%.

Insider Activity

In other news, CFO Beth W. Cooper sold 5,000 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $132.15, for a total transaction of $660,750.00. Following the completion of the sale, the chief financial officer directly owned 90,713 shares in the company, valued at $11,987,722.95. This represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.68% of the stock is owned by corporate insiders.

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.