Sei Investments Co. Increases Stake in Chesapeake Utilities Corporation $CPK

Sei Investments Co. grew its holdings in Chesapeake Utilities Corporation (NYSE:CPK) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,412 shares of the utilities provider’s stock after acquiring an additional 6,388 shares during the period. Sei Investments Co.’s holdings in Chesapeake Utilities were worth $8,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its position 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 valued at $27,000 after acquiring an additional 108 shares during the period. Geneos Wealth Management Inc. lifted 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 in the last quarter. Entrust Financial LLC purchased a new position in Chesapeake Utilities during the fourth quarter valued at $37,000. CIBC Private Wealth Group LLC grew its holdings 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 period. Finally, Rockefeller Capital Management L.P. grew 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 valued at $61,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Down 0.0%

Shares of CPK stock opened at $132.78 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 21.28 and a beta of 0.69. Chesapeake Utilities Corporation has a 12-month low of $118.83 and a 12-month high of $140.83. The stock’s 50-day moving average price is $126.50 and its 200-day moving average price is $127.95.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.09. The company had revenue of $353.10 million during the quarter, compared to analyst estimates of $339.86 million. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Equities research analysts predict that Chesapeake Utilities Corporation will post 6.46 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were given a dividend of $0.735 per share. The ex-dividend date was Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. Chesapeake Utilities’s dividend payout ratio is currently 47.12%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company initiated coverage on Chesapeake Utilities in a research report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 price target for the company. Weiss Ratings raised Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Barclays set a $142.00 price objective on Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Chesapeake Utilities currently has a consensus rating of “Hold” and an average price target of $137.00.

Insider Buying and Selling

In other news, SVP Kevin J. Webber sold 2,000 shares of the 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 transaction, the senior vice president directly owned 12,652 shares in the company, valued at approximately $1,611,485.24. This represents a 13.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffry M. Householder sold 10,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $126.12, for a total transaction of $1,261,200.00. Following the completion of the sale, the chief executive officer owned 63,001 shares in the company, valued at $7,945,686.12. This represents a 13.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.36% of the stock is currently owned by corporate insiders.

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.