50,451 Shares of Chesapeake Utilities Corporation $CPK Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 50,451 shares of Chesapeake Utilities during the second quarter, worth approximately $6.18 million and representing about 0.21% of the company. Institutional investors collectively own 83.11% of CPK.
• Analyst sentiment is broadly positive, with Chesapeake Utilities carrying a “Moderate Buy” consensus rating and a $144 average price target, although ratings range from “Strong Buy” to “Sell.”
• Chesapeake Utilities reported quarterly revenue of $201.9 million, up 4.7% year over year, but slightly missed EPS expectations. The company declared a quarterly dividend of $0.735 per share, equating to a 2.3% annual yield.

Bank of America Corp DE acquired a new stake in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,451 shares of the utilities provider's stock, valued at approximately $6,179,000. Bank of America Corp DE owned about 0.21% of Chesapeake Utilities at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in Chesapeake Utilities by 31.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 325 shares of the utilities provider's stock worth $41,000 after acquiring an additional 78 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Chesapeake Utilities by 38.8% during the 2nd quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider's stock worth $37,000 after purchasing an additional 85 shares during the period. Byrne Asset Management LLC lifted its stake in shares of Chesapeake Utilities by 11.4% during the 2nd quarter. Byrne Asset Management LLC now owns 1,176 shares of the utilities provider's stock worth $144,000 after purchasing an additional 120 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Chesapeake Utilities by 4.5% during the first quarter. Bessemer Group Inc. now owns 2,994 shares of the utilities provider's stock worth $378,000 after purchasing an additional 128 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Chesapeake Utilities by 0.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 21,660 shares of the utilities provider's stock worth $2,737,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Mizuho set a $150.00 target price on Chesapeake Utilities and gave the company an "outperform" rating in a research note on Friday, September 11th. Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Huntington started coverage on Chesapeake Utilities in a report on Monday, September 14th. They issued an "outperform" rating and a $150.00 price target for the company. Weiss Ratings raised shares of Chesapeake Utilities from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 10th. Finally, Wells Fargo & Company raised their target price on shares of Chesapeake Utilities from $132.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.00.

Chesapeake Utilities Stock Up 0.3%

Shares of NYSE:CPK opened at $129.12 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.28 and a current ratio of 0.32. Chesapeake Utilities Corporation has a 1 year low of $118.88 and a 1 year high of $140.83. The stock has a market capitalization of $3.11 billion, a P/E ratio of 20.59 and a beta of 0.67. The stock has a 50-day simple moving average of $133.13 and a 200-day simple moving average of $128.54.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). The business had revenue of $201.90 million during the quarter, compared to analysts' expectations of $198.91 million. Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 EPS. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. Equities analysts forecast that Chesapeake Utilities Corporation will post 6.45 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Monday, September 14th will be issued a dividend of $0.7350 per share. The ex-dividend date is Monday, September 14th. This represents a $2.94 annualized dividend and a dividend yield of 2.3%. Chesapeake Utilities's payout ratio is presently 46.89%.

About Chesapeake Utilities

Chesapeake Utilities Corporation is a diversified energy delivery company headquartered in Dover, Delaware. Founded in 1859, the company operates regulated and unregulated businesses that provide natural gas, propane, electric power and related energy services to residential, commercial, industrial and institutional customers.

Its operations include natural gas distribution and transmission, propane distribution, wholesale and retail energy marketing, compressed natural gas and liquefied natural gas services, and energy logistics.

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