Raymond James Financial Inc. Boosts Stock Position in Chesapeake Utilities Corporation $CPK

Raymond James Financial Inc. grew its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 11.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,926 shares of the utilities provider’s stock after buying an additional 4,817 shares during the period. Raymond James Financial Inc. owned 0.20% of Chesapeake Utilities worth $6,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. raised its position in shares of Chesapeake Utilities by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 113,431 shares of the utilities provider’s stock worth $14,568,000 after acquiring an additional 2,989 shares in the last quarter. Spire Wealth Management purchased a new position in Chesapeake Utilities in the first quarter valued at approximately $26,000. Fifth Third Bancorp increased its stake in Chesapeake Utilities by 28.8% in the first quarter. Fifth Third Bancorp now owns 864 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 193 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Chesapeake Utilities during the first quarter worth approximately $512,000. Finally, LPL Financial LLC lifted its position in shares of Chesapeake Utilities by 14.8% during the 1st quarter. LPL Financial LLC now owns 15,750 shares of the utilities provider’s stock worth $2,023,000 after buying an additional 2,033 shares during the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a research report on Friday, May 9th. Wall Street Zen lowered Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Barclays cut their target price on Chesapeake Utilities from $124.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 22nd. One 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 company has an average rating of “Moderate Buy” and an average price target of $124.50.

Chesapeake Utilities Price Performance

Shares of NYSE:CPK opened at $123.08 on Thursday. Chesapeake Utilities Corporation has a one year low of $115.12 and a one year high of $136.73. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 21.94 and a beta of 0.70. The company has a 50-day simple moving average of $122.65 and a 200-day simple moving average of $124.91. 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 (NYSE:CPK) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $192.80 million for the quarter, compared to analyst estimates of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. On average, analysts predict that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be given a dividend of $0.685 per share. The ex-dividend date is Monday, September 15th. This represents a $2.74 dividend on an annualized basis and a yield of 2.2%. Chesapeake Utilities’s dividend payout ratio is presently 48.84%.

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.