AGP Franklin LLC Buys 6,617 Shares of Chesapeake Utilities Corporation $CPK

AGP Franklin LLC raised its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 160.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,741 shares of the utilities provider’s stock after purchasing an additional 6,617 shares during the quarter. AGP Franklin LLC’s holdings in Chesapeake Utilities were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CPK. Wellington Management Group LLP purchased a new stake in shares of Chesapeake Utilities during the 1st quarter valued at $26,299,000. Nuveen LLC purchased a new position in Chesapeake Utilities in the first quarter worth $12,967,000. Strs Ohio bought a new position in Chesapeake Utilities in the first quarter valued at $10,467,000. Zimmer Partners LP raised its position in Chesapeake Utilities by 57.1% during the first quarter. Zimmer Partners LP now owns 177,048 shares of the utilities provider’s stock valued at $22,738,000 after purchasing an additional 64,353 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Chesapeake Utilities by 1,714.7% during the first quarter. Jane Street Group LLC now owns 47,328 shares of the utilities provider’s stock worth $6,078,000 after purchasing an additional 44,720 shares during the last quarter. Hedge funds and other institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Trading Up 0.2%

CPK opened at $137.19 on Friday. The stock has a market cap of $3.24 billion, a PE ratio of 24.45 and a beta of 0.79. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average of $132.85 and a 200-day moving average of $126.17. Chesapeake Utilities Corporation has a 52 week low of $115.12 and a 52 week high of $140.59.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.08). The firm had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $167.30 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.Chesapeake Utilities’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. Equities research analysts predict that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 15th will be paid a $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, December 15th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.50%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BTIG Research assumed coverage on Chesapeake Utilities in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Barclays set a $141.00 price target on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Wall Street Zen cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings raised Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chesapeake Utilities presently has a consensus rating of “Moderate Buy” and an average target price of $141.00.

Insider Transactions at Chesapeake Utilities

In related news, CFO Beth W. Cooper sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $132.15, for a total transaction of $660,750.00. Following the sale, the chief financial officer owned 90,713 shares of the company’s stock, valued at $11,987,722.95. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.68% of the stock is currently owned by company insiders.

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.