Zimmer Partners LP Boosts Stock Position in Chesapeake Utilities Corporation $CPK

Zimmer Partners LP raised its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 57.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,048 shares of the utilities provider’s stock after acquiring an additional 64,353 shares during the period. Zimmer Partners LP’s holdings in Chesapeake Utilities were worth $22,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in Chesapeake Utilities during the 1st quarter worth approximately $26,299,000. GAMMA Investing LLC increased its position in Chesapeake Utilities by 13,619.7% during the 1st quarter. GAMMA Investing LLC now owns 148,722 shares of the utilities provider’s stock worth $19,100,000 after purchasing an additional 147,638 shares during the period. Nuveen LLC acquired a new stake in shares of Chesapeake Utilities in the 1st quarter worth approximately $12,967,000. Jennison Associates LLC grew its holdings in shares of Chesapeake Utilities by 4.7% in the 1st quarter. Jennison Associates LLC now owns 518,231 shares of the utilities provider’s stock worth $66,556,000 after acquiring an additional 23,053 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Chesapeake Utilities by 4.6% in the 1st quarter. Invesco Ltd. now owns 485,822 shares of the utilities provider’s stock worth $62,394,000 after acquiring an additional 21,143 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $123.46 on Tuesday. The business’s fifty day moving average price is $122.87 and its two-hundred day moving average price is $124.94. The stock has a market cap of $2.91 billion, a PE ratio of 22.01 and a beta of 0.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.36 and a current ratio of 0.42. Chesapeake Utilities Corporation has a one year low of $115.12 and a one year high of $136.73.

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

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.685 per share. The ex-dividend date is Monday, September 15th. This represents a $2.74 annualized dividend and a dividend yield of 2.2%. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.84%.

Analyst Ratings Changes

CPK has been the topic of a number of research reports. Wall Street Zen cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Barclays lowered their price target on Chesapeake Utilities from $124.00 to $120.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.50.

Chesapeake Utilities 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.