Freestone Grove Partners LP Purchases Shares of 5,140 Chesapeake Utilities Corporation $CPK

Freestone Grove Partners LP purchased a new stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) in the 2nd quarter, Holdings Channel reports. The fund purchased 5,140 shares of the utilities provider’s stock, valued at approximately $630,000.

Several other institutional investors have also recently made changes to their positions in CPK. BlackRock Inc. purchased a new position in shares of Chesapeake Utilities in the second quarter worth approximately $459,185,000. Alliancebernstein L.P. increased its holdings in Chesapeake Utilities by 831.0% during the third quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock valued at $68,884,000 after buying an additional 456,497 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Chesapeake Utilities during the second quarter valued at approximately $25,935,000. Wellington Management Group LLP increased its holdings in Chesapeake Utilities by 27.6% during the third quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock valued at $128,231,000 after buying an additional 205,742 shares during the last quarter. Finally, Energy Income Partners LLC bought a new position in Chesapeake Utilities in the second quarter worth approximately $25,080,000. Institutional investors own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

CPK has been the topic of several analyst reports. Wall Street Zen cut shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Wells Fargo & Company upped their price objective on Chesapeake Utilities from $132.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $138.00.

Chesapeake Utilities Stock Down 0.2%

CPK stock opened at $132.51 on Monday. The business’s 50-day moving average price is $131.18 and its 200-day moving average price is $129.00. The stock has a market cap of $3.19 billion, a P/E ratio of 21.13 and a beta of 0.68. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79. Chesapeake Utilities Corporation has a twelve month low of $118.88 and a twelve month high of $140.83.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%.The firm had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $198.91 million. During the same period in the prior year, the company posted $1.04 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. On average, equities research analysts forecast that Chesapeake Utilities Corporation will post 6.42 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 14th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, September 14th. Chesapeake Utilities’s dividend payout ratio is presently 46.89%.

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.