Cbre Investment Management Listed Real Assets LLC Acquires 71,242 Shares of Chesapeake Utilities Corporation $CPK

Key Points

• Cbre Investment Management Listed Real Assets LLC boosted its Chesapeake Utilities stake by 54.4% in the fourth quarter, buying 71,242 shares and bringing its total holding to 202,264 shares worth about $25.2 million.
• Chesapeake Utilities reported better-than-expected quarterly results, with EPS of $2.47 and revenue of $353.1 million, while raising its full-year guidance outlook for FY 2028.
• The company also increased its quarterly dividend to $0.735 per share from $0.69, and analysts currently rate the stock a consensus Hold with a $137 average price target.

Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 54.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,264 shares of the utilities provider's stock after purchasing an additional 71,242 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.86% of Chesapeake Utilities worth $25,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Chesapeake Utilities by 1,040.1% during the 4th quarter. SG Americas Securities LLC now owns 9,486 shares of the utilities provider's stock valued at $1,183,000 after purchasing an additional 8,654 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of Chesapeake Utilities during the 4th quarter valued at $3,314,000. Moody Aldrich Partners LLC raised its holdings in shares of Chesapeake Utilities by 31.7% during the 4th quarter. Moody Aldrich Partners LLC now owns 45,737 shares of the utilities provider's stock valued at $5,706,000 after purchasing an additional 10,997 shares in the last quarter. M&T Bank Corp bought a new position in shares of Chesapeake Utilities during the 4th quarter valued at $2,880,000. Finally, Boston Trust Walden Corp raised its holdings in shares of Chesapeake Utilities by 12.8% during the 4th quarter. Boston Trust Walden Corp now owns 365,353 shares of the utilities provider's stock valued at $45,581,000 after purchasing an additional 41,592 shares in the last quarter. Institutional investors own 83.11% of the company's stock.

Insider Transactions at Chesapeake Utilities

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Barclays set a $142.00 target price on shares of Chesapeake Utilities and gave the company an "equal weight" rating in a research note on Monday, April 20th. Weiss Ratings upgraded shares of Chesapeake Utilities from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company assumed coverage on shares of Chesapeake Utilities in a research note on Tuesday, May 12th. They issued an "equal weight" rating and a $132.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $137.00.

Chesapeake Utilities Stock Performance

NYSE CPK opened at $120.57 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.39. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 19.32 and a beta of 0.71. The company's fifty day moving average is $126.67 and its two-hundred day moving average is $128.77. Chesapeake Utilities Corporation has a 52-week low of $117.64 and a 52-week high of $140.59.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.09. The company had revenue of $353.10 million for the quarter, compared to analyst estimates of $339.86 million. Chesapeake Utilities had a net margin of 15.11% and a return on equity of 9.53%. The business's quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the business posted $2.22 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Equities research analysts forecast that Chesapeake Utilities Corporation will post 6.51 EPS for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Chesapeake Utilities's previous quarterly dividend of $0.69. Chesapeake Utilities's payout ratio is 47.12%.

Chesapeake Utilities 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.

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