Chesapeake Utilities Corporation $CPK Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Chesapeake Utilities Corporation by 86.6% in the first quarter, retaining only 1,571 shares after selling 10,121 shares.
• Chesapeake Utilities recently reported $192.80 million in revenue for the quarter, surpassing estimates and showing a 15.9% year-over-year increase in revenue.
• The company declared a quarterly dividend of $0.685 per share, reflecting a 2.2% yield, with the dividend payout ratio set at 48.84%.

Hsbc Holdings PLC decreased its holdings in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 86.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,571 shares of the utilities provider's stock after selling 10,121 shares during the quarter. Hsbc Holdings PLC's holdings in Chesapeake Utilities were worth $201,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CPK. Northern Trust Corp raised its position in Chesapeake Utilities by 9.0% in the fourth quarter. Northern Trust Corp now owns 281,910 shares of the utilities provider's stock worth $34,210,000 after acquiring an additional 23,160 shares in the last quarter. Deutsche Bank AG raised its position in Chesapeake Utilities by 21.6% in the fourth quarter. Deutsche Bank AG now owns 30,174 shares of the utilities provider's stock worth $3,662,000 after acquiring an additional 5,352 shares in the last quarter. Ethic Inc. raised its position in Chesapeake Utilities by 14.5% in the fourth quarter. Ethic Inc. now owns 13,498 shares of the utilities provider's stock worth $1,638,000 after acquiring an additional 1,707 shares in the last quarter. Ellevest Inc. increased its position in shares of Chesapeake Utilities by 6.9% in the fourth quarter. Ellevest Inc. now owns 7,012 shares of the utilities provider's stock valued at $851,000 after buying an additional 455 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Chesapeake Utilities by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,582 shares of the utilities provider's stock valued at $1,527,000 after buying an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company's stock.

Wall Street Analyst Weigh In

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

Chesapeake Utilities Price Performance

Chesapeake Utilities stock traded down $2.13 during midday trading on Monday, reaching $123.46. 92,486 shares of the company were exchanged, compared to its average volume of 89,992. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 22.01 and a beta of 0.70. The firm's 50-day simple moving average is $122.87 and its 200-day simple moving average is $124.94. Chesapeake Utilities Corporation has a 1 year low of $115.12 and a 1 year high of $136.73. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.36 and a current ratio of 0.42.

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 firm had revenue of $192.80 million during the quarter, compared to analysts' expectations of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. On average, analysts anticipate that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed 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. This represents a $2.74 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Monday, September 15th. Chesapeake Utilities's dividend payout ratio (DPR) is currently 48.84%.

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.