TD Asset Management Inc Sells 682 Shares of Chesapeake Utilities Corporation $CPK

TD Asset Management Inc decreased its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,450 shares of the utilities provider’s stock after selling 682 shares during the period. TD Asset Management Inc’s holdings in Chesapeake Utilities were worth $4,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management bought a new stake in Chesapeake Utilities during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its stake in Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 164 shares during the period. JFS Wealth Advisors LLC raised its stake in Chesapeake Utilities by 1,909.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 210 shares during the period. Farther Finance Advisors LLC raised its stake in Chesapeake Utilities by 50.7% during the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 106 shares during the period. Finally, Rossby Financial LCC bought a new stake in Chesapeake Utilities during the 1st quarter worth approximately $61,000. Institutional investors own 83.11% of the company’s stock.

Insider Buying and Selling at Chesapeake Utilities

In related news, CFO Beth W. Cooper sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $132.15, for a total value of $660,750.00. Following the completion of the transaction, the chief financial officer directly owned 90,713 shares of the company’s stock, valued at approximately $11,987,722.95. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.51% of the company’s stock.

Chesapeake Utilities Trading Up 0.6%

Shares of CPK opened at $134.26 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36. Chesapeake Utilities Corporation has a 1 year low of $115.12 and a 1 year high of $140.59. The company has a 50 day simple moving average of $128.81 and a two-hundred day simple moving average of $125.90. The firm has a market cap of $3.16 billion, a P/E ratio of 23.93 and a beta of 0.74.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The firm had revenue of $192.80 million during the quarter, compared to analyst estimates of $182.45 million. During the same period last year, the firm posted $0.86 earnings per share. Chesapeake Utilities’s revenue for the quarter was up 15.9% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. On average, equities analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 6th. Investors of record on Monday, September 15th were issued a $0.685 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.0%. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.84%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays set a $128.00 target price on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Chesapeake Utilities currently has a consensus rating of “Moderate Buy” and an average target price of $128.50.

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.