Strs Ohio Buys Shares of 81,500 Chesapeake Utilities Corporation $CPK

Key Points

• Strs Ohio has acquired 81,500 shares of Chesapeake Utilities Corporation, valued at approximately $10,467,000, which represents a 0.35% ownership in the company as of the end of the first quarter.
• Chesapeake Utilities reported a strong earnings performance with $1.04 earnings per share for the quarter, surpassing analyst estimates of $1.00, and showing a year-over-year revenue increase of 15.9%.
• The company announced a quarterly dividend of $0.685 per share, translating to an annualized dividend yield of 2.2%, set to be paid on October 6th.

Strs Ohio acquired a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 81,500 shares of the utilities provider's stock, valued at approximately $10,467,000. Strs Ohio owned about 0.35% of Chesapeake Utilities as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CPK. Deutsche Bank AG raised its position in Chesapeake Utilities by 21.6% during the 4th quarter. Deutsche Bank AG now owns 30,174 shares of the utilities provider's stock worth $3,662,000 after buying an additional 5,352 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Chesapeake Utilities by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,582 shares of the utilities provider's stock worth $1,527,000 after buying an additional 471 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Chesapeake Utilities by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 67,678 shares of the utilities provider's stock valued at $8,213,000 after purchasing an additional 2,398 shares in the last quarter. Snowden Capital Advisors LLC increased its holdings in shares of Chesapeake Utilities by 9.0% in the 4th quarter. Snowden Capital Advisors LLC now owns 3,618 shares of the utilities provider's stock valued at $441,000 after purchasing an additional 299 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Chesapeake Utilities in the 4th quarter valued at about $2,479,000. Hedge funds and other institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Price Performance

NYSE:CPK traded up $2.04 during mid-day trading on Thursday, hitting $126.49. 156,015 shares of the company's stock traded hands, compared to its average volume of 107,256. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.36 and a current ratio of 0.42. The firm's 50 day simple moving average is $123.20 and its 200 day simple moving average is $124.85. Chesapeake Utilities Corporation has a 1 year low of $115.12 and a 1 year high of $136.73. The company has a market cap of $2.98 billion, a PE ratio of 22.55 and a beta of 0.70.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The firm had revenue of $192.80 million during the quarter, compared to the consensus estimate of $182.45 million. During the same period last year, the firm posted $0.86 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. Sell-side analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.685 per share. This represents a $2.74 annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, September 15th. Chesapeake Utilities's dividend payout ratio (DPR) is 48.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CPK shares. Wall Street Zen downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Barclays cut their price target on shares of Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $124.50.

Chesapeake Utilities 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.