First Trust Advisors LP Has $39.05 Million Position in Chesapeake Utilities Corporation $CPK

First Trust Advisors LP cut its stake in Chesapeake Utilities Corporation (NYSE:CPK) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 309,029 shares of the utilities provider’s stock after selling 8,520 shares during the quarter. First Trust Advisors LP’s holdings in Chesapeake Utilities were worth $39,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CPK. EverSource Wealth Advisors LLC raised its position in shares of Chesapeake Utilities by 31.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 325 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 78 shares during the period. Wealthspire Advisors LLC raised its holdings in Chesapeake Utilities by 0.3% in the fourth quarter. Wealthspire Advisors LLC now owns 29,488 shares of the utilities provider’s stock worth $3,679,000 after purchasing an additional 93 shares during the period. Franklin Resources Inc. raised its holdings in Chesapeake Utilities by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 1,646 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 95 shares during the period. Intrust Bank NA boosted its position in shares of Chesapeake Utilities by 2.2% during the fourth quarter. Intrust Bank NA now owns 4,540 shares of the utilities provider’s stock worth $566,000 after purchasing an additional 97 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Chesapeake Utilities by 66.1% during the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 109 shares in the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Performance

Shares of CPK stock opened at $135.81 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.43. The company has a market capitalization of $3.26 billion, a P/E ratio of 21.77 and a beta of 0.69. The company’s 50 day moving average price is $125.85 and its two-hundred day moving average price is $127.60. Chesapeake Utilities Corporation has a 52 week low of $118.83 and a 52 week high of $140.59.

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

Chesapeake Utilities Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on CPK. Weiss Ratings upgraded shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Wells Fargo & Company began coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 target price on the stock. Finally, Barclays set a $142.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $137.00.

Insider Buying and Selling at Chesapeake Utilities

In related news, CEO Jeffry M. Householder sold 10,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $126.12, for a total value of $1,261,200.00. Following the completion of the transaction, the chief executive officer directly owned 63,001 shares of the company’s stock, valued at approximately $7,945,686.12. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin J. Webber sold 2,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $127.37, for a total value 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 trade represents a 13.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.36% of the company’s stock.

Chesapeake Utilities 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.