Rhumbline Advisers Lowers Stock Holdings in Chesapeake Utilities Corporation $CPK

Key Points

• Rhumbline Advisers reduced its stake in Chesapeake Utilities by 4.0%, now holding about 66,877 shares worth approximately $8.6 million.
• Chesapeake Utilities reported a **15.9% increase in revenue** year-over-year, achieving $192.8 million this quarter, and beat EPS estimates with $1.04 per share.
• The company will pay a **quarterly dividend of $0.685** on October 6th, representing a **2.2% dividend yield** and a payout ratio of 48.84%.

Rhumbline Advisers cut its holdings in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,877 shares of the utilities provider's stock after selling 2,776 shares during the period. Rhumbline Advisers owned 0.29% of Chesapeake Utilities worth $8,589,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CPK. Spire Wealth Management bought a new stake in shares of Chesapeake Utilities during the 1st quarter valued at $26,000. Geneos Wealth Management Inc. raised its position in shares of Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 164 shares during the period. NBC Securities Inc. bought a new stake in shares of Chesapeake Utilities during the 1st quarter valued at $30,000. Byrne Asset Management LLC raised its position in shares of Chesapeake Utilities by 114.3% during the 1st quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 144 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Chesapeake Utilities by 50.7% during the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 106 shares during the period. 83.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CPK. Barclays decreased their price objective on shares of Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Chesapeake Utilities Trading Down 0.3%

Shares of CPK stock traded down $0.38 during trading hours on Tuesday, reaching $124.03. 23,114 shares of the stock were exchanged, compared to its average volume of 113,461. Chesapeake Utilities Corporation has a 12-month low of $115.12 and a 12-month high of $136.73. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.83. The company's 50-day moving average price is $123.11 and its 200-day moving average price is $124.89. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 22.12 and a beta of 0.70.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.04 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $182.45 million. During the same period in the previous year, the company earned $0.86 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. As a group, equities analysts anticipate that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 15th will be paid 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 dividend yield of 2.2%. Chesapeake Utilities's payout ratio is currently 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.