Chesapeake Utilities (NYSE:CPK) CEO Jeffry Householder Sells 7,500 Shares of Stock

Chesapeake Utilities Corporation (NYSE:CPK) CEO Jeffry Householder sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $126.74, for a total transaction of $950,550.00. Following the completion of the sale, the chief executive officer directly owned 64,416 shares of the company’s stock, valued at approximately $8,164,083.84. This represents a 10.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $128.90 on Friday. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 22.81 and a beta of 0.79. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.62 and a quick ratio of 0.55. Chesapeake Utilities Corporation has a 12 month low of $115.12 and a 12 month high of $140.59. The stock’s 50 day moving average price is $132.49 and its 200 day moving average price is $127.18.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.08). The firm had revenue of $179.60 million for the quarter, compared to analyst estimates of $167.30 million. Chesapeake Utilities had a net margin of 14.77% and a return on equity of 9.03%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. Equities research analysts anticipate that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 15th will be issued a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, December 15th. Chesapeake Utilities’s dividend payout ratio is presently 48.50%.

Institutional Investors Weigh In On Chesapeake Utilities

Several hedge funds have recently made changes to their positions in CPK. Elevation Point Wealth Partners LLC purchased a new position in Chesapeake Utilities during the 2nd quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its holdings in shares of 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 buying an additional 164 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Chesapeake Utilities by 1,909.1% during the second quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock valued at $27,000 after buying an additional 210 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Chesapeake Utilities by 94.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Chesapeake Utilities by 66.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays set a $141.00 price objective on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. BTIG Research assumed coverage on shares of Chesapeake Utilities in a report on Tuesday, October 21st. They set a “neutral” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Monday. Finally, Wall Street Zen raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.00.

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.