Chesapeake Utilities Corporation $CPK Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC reduced its stake in Chesapeake Utilities by 9.5% in Q4, selling 50,125 shares and now holds 479,181 shares (about 2.03% of the company) valued at roughly $59.78 million.
• In the latest quarter Chesapeake reported EPS $1.94 (missing estimates of $2.16) while revenue rose 20.4% to $258.9M (beating expectations), and the company set FY2028 guidance of $7.75–$8.00 EPS.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $142.00, and institutional investors own about 83.11% of the stock.

Jennison Associates LLC decreased its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 479,181 shares of the utilities provider's stock after selling 50,125 shares during the quarter. Jennison Associates LLC owned approximately 2.03% of Chesapeake Utilities worth $59,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in Chesapeake Utilities by 1,040.1% in the 4th quarter. SG Americas Securities LLC now owns 9,486 shares of the utilities provider's stock valued at $1,183,000 after acquiring an additional 8,654 shares during the period. Phocas Financial Corp. bought a new position in shares of Chesapeake Utilities during the fourth quarter worth approximately $3,314,000. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Chesapeake Utilities by 1,395.0% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 131,022 shares of the utilities provider's stock worth $17,647,000 after purchasing an additional 122,258 shares during the period. Tributary Capital Management LLC increased its holdings in shares of Chesapeake Utilities by 92.5% during the third quarter. Tributary Capital Management LLC now owns 270,642 shares of the utilities provider's stock worth $36,453,000 after purchasing an additional 130,071 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Chesapeake Utilities during the third quarter worth approximately $1,471,000. Institutional investors and hedge funds own 83.11% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays set a $142.00 target price on shares of Chesapeake Utilities and gave the stock an "equal weight" rating in a report on Monday, April 20th. Wall Street Zen raised shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Chesapeake Utilities in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $142.00.

Chesapeake Utilities Stock Performance

Shares of NYSE:CPK opened at $126.10 on Friday. The company's 50 day simple moving average is $129.33 and its 200 day simple moving average is $129.68. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 21.09 and a beta of 0.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.45 and a quick ratio of 0.40. Chesapeake Utilities Corporation has a 1 year low of $115.24 and a 1 year high of $140.59.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.16 by ($0.22). The firm had revenue of $258.90 million during the quarter, compared to the consensus estimate of $208.59 million. Chesapeake Utilities had a net margin of 15.09% and a return on equity of 9.31%. The business's revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business earned $1.63 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. As a group, research analysts predict that Chesapeake Utilities Corporation will post 6.51 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Monday, March 16th were paid a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, March 16th. Chesapeake Utilities's dividend payout ratio (DPR) is 45.82%.

Chesapeake Utilities Company 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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