Legal & General Group Plc Sells 4,467 Shares of Chesapeake Utilities Corporation $CPK

Legal & General Group Plc reduced its stake in Chesapeake Utilities Corporation (NYSE:CPK) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,939 shares of the utilities provider’s stock after selling 4,467 shares during the quarter. Legal & General Group Plc owned about 0.60% of Chesapeake Utilities worth $17,833,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CPK. Royal Bank of Canada grew its position in shares of Chesapeake Utilities by 8.0% during the 1st quarter. Royal Bank of Canada now owns 28,886 shares of the utilities provider’s stock worth $3,710,000 after purchasing an additional 2,139 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Chesapeake Utilities by 69.6% during the 1st quarter. AQR Capital Management LLC now owns 6,283 shares of the utilities provider’s stock worth $807,000 after acquiring an additional 2,579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Chesapeake Utilities by 6.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,452 shares of the utilities provider’s stock worth $1,728,000 after acquiring an additional 870 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Chesapeake Utilities by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,096 shares of the utilities provider’s stock worth $10,158,000 after acquiring an additional 2,312 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Chesapeake Utilities by 1,714.7% during the 1st quarter. Jane Street Group LLC now owns 47,328 shares of the utilities provider’s stock worth $6,078,000 after acquiring an additional 44,720 shares in the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Performance

Shares of Chesapeake Utilities stock opened at $120.57 on Tuesday. Chesapeake Utilities Corporation has a fifty-two week low of $117.64 and a fifty-two week high of $140.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.39. The firm has a market capitalization of $2.89 billion, a P/E ratio of 19.32 and a beta of 0.71. The company’s 50 day moving average price is $126.67 and its two-hundred day moving average price is $128.77.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.09. The firm had revenue of $353.10 million during the quarter, compared to the consensus estimate of $339.86 million. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. On average, equities analysts forecast that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. Chesapeake Utilities’s payout ratio is currently 47.12%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CPK shares. Barclays set a $142.00 price target on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company started coverage on shares of Chesapeake Utilities in a research report on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price target on the stock. Weiss Ratings upgraded shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $137.00.

Insiders Place Their Bets

In related news, CEO Jeffry M. Householder sold 10,000 shares of the business’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 transaction, the chief executive officer owned 63,001 shares in the company, valued at $7,945,686.12. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin J. Webber sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the sale, the senior vice president directly owned 12,652 shares in the company, valued at $1,611,485.24. This trade represents a 13.65% decrease in their position. The SEC filing for this sale provides additional information. 1.36% of the stock is owned by company insiders.

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.