Fifth Third Bancorp Increases Position in Chesapeake Utilities Corporation $CPK

Fifth Third Bancorp raised its holdings in Chesapeake Utilities Corporation (NYSE:CPK) by 4,456.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,129 shares of the utilities provider’s stock after acquiring an additional 15,775 shares during the period. Fifth Third Bancorp owned approximately 0.07% of Chesapeake Utilities worth $2,038,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Chesapeake Utilities by 292.9% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 164 shares during the last quarter. Entrust Financial LLC purchased a new position in Chesapeake Utilities during the fourth quarter worth approximately $37,000. CIBC Private Wealth Group LLC lifted its position in Chesapeake Utilities by 66.1% during the third 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. Finally, Rockefeller Capital Management L.P. lifted its position in Chesapeake Utilities by 133.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 487 shares of the utilities provider’s stock worth $61,000 after buying an additional 278 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Up 2.4%

CPK stock opened at $135.05 on Thursday. Chesapeake Utilities Corporation has a one year low of $118.83 and a one year high of $140.59. The firm has a market cap of $3.24 billion, a PE ratio of 21.64 and a beta of 0.69. The firm’s 50 day moving average price is $125.31 and its 200-day moving average price is $127.34. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.39 and a current ratio of 0.43.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.09. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.The company had revenue of $353.10 million during the quarter, compared to analyst estimates of $339.86 million. During the same period in the prior year, the business posted $2.22 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. On average, equities research analysts anticipate that Chesapeake Utilities Corporation will post 6.46 EPS for the current year.

Chesapeake Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were issued a $0.735 dividend. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date was Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 2.2%. Chesapeake Utilities’s payout ratio is presently 47.12%.

Insider Activity

In other Chesapeake Utilities news, CEO Jeffry M. Householder sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $126.12, for a total value of $1,261,200.00. Following the transaction, the chief executive officer owned 63,001 shares of the company’s stock, valued at $7,945,686.12. This represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin J. Webber sold 2,000 shares of Chesapeake Utilities stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the sale, the senior vice president owned 12,652 shares of the company’s stock, valued at approximately $1,611,485.24. This represents a 13.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company started coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 target price for the company. Barclays set a $142.00 price target on Chesapeake Utilities and gave the stock an “equal weight” rating in a report on Monday, April 20th. Finally, Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $137.00.

Chesapeake Utilities Company Profile

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.