Chesapeake Utilities Corporation $CPK Position Increased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Chesapeake Utilities by 57.4%, now owning 16,048 shares valued at approximately $2.06 million.
• Chesapeake Utilities reported Q2 earnings of $1.04 EPS, surpassing estimates of $1.00, with a 15.9% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.685 per share, yielding 2.1%, with the ex-dividend date set for September 15th.

Voya Investment Management LLC increased its position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 57.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,048 shares of the utilities provider's stock after acquiring an additional 5,855 shares during the period. Voya Investment Management LLC owned about 0.07% of Chesapeake Utilities worth $2,061,000 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. Spire Wealth Management purchased a new stake in shares of Chesapeake Utilities during the first quarter worth $26,000. Geneos Wealth Management Inc. raised its holdings in shares of Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider's stock worth $28,000 after acquiring an additional 164 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Chesapeake Utilities during the first quarter worth $30,000. Byrne Asset Management LLC raised its holdings in shares of Chesapeake Utilities by 114.3% during the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after acquiring an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Chesapeake Utilities by 50.7% during the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock worth $41,000 after acquiring an additional 106 shares in the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barclays cut their price objective on 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 research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Chesapeake Utilities Trading Up 1.9%

Chesapeake Utilities stock opened at $128.75 on Monday. 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 business's 50-day simple moving average is $123.31 and its 200-day simple moving average is $124.83. The firm has a market capitalization of $3.03 billion, a PE ratio of 22.95 and a beta of 0.70. Chesapeake Utilities Corporation has a 52 week low of $115.12 and a 52 week high of $136.73.

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

Chesapeake Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 15th will be given a dividend of $0.685 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.74 dividend on an annualized basis and a yield of 2.1%. Chesapeake Utilities's dividend payout ratio (DPR) is 48.84%.

About Chesapeake Utilities

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.

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