Phocas Financial Corp. Takes $3.31 Million Position in Chesapeake Utilities Corporation $CPK

Phocas Financial Corp. purchased a new stake in Chesapeake Utilities Corporation (NYSE:CPK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,559 shares of the utilities provider’s stock, valued at approximately $3,314,000. Phocas Financial Corp. owned 0.11% of Chesapeake Utilities as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CPK. EverSource Wealth Advisors LLC increased its holdings in Chesapeake Utilities by 94.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 108 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Chesapeake Utilities by 292.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after buying an additional 164 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Chesapeake Utilities by 66.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after buying an additional 109 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of Chesapeake Utilities by 77.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider’s stock worth $40,000 after buying an additional 130 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Chesapeake Utilities during the third quarter valued at $62,000. Institutional investors own 83.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CPK shares. Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Friday, March 27th. Wall Street Zen raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Barclays restated a “reduce” rating and issued a $140.00 price target (down from $141.00) on shares of Chesapeake Utilities in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $140.00.

Chesapeake Utilities Stock Performance

Shares of CPK opened at $129.34 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 0.83. The firm has a market cap of $3.10 billion, a PE ratio of 21.63 and a beta of 0.77. Chesapeake Utilities Corporation has a 12 month low of $115.24 and a 12 month high of $140.59. The stock has a fifty day moving average price of $130.32 and a 200-day moving average price of $130.46.

Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Wednesday, February 25th. The utilities provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.16 by ($0.22). Chesapeake Utilities had a return on equity of 9.31% and a net margin of 15.09%.The business had revenue of $258.90 million for the quarter, compared to analysts’ expectations of $208.59 million. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. Equities research analysts predict that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.685 per share. The ex-dividend date is Monday, March 16th. This represents a $2.74 annualized dividend and a dividend yield of 2.1%. Chesapeake Utilities’s dividend payout ratio is 45.82%.

About Chesapeake Utilities

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.