Chesapeake Utilities Corporation $CPK Shares Sold by Rhumbline Advisers

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 lowered its stake in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure 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 approximately 0.29% of Chesapeake Utilities worth $8,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CPK. Deutsche Bank AG increased its holdings in shares of Chesapeake Utilities by 21.6% in the fourth quarter. Deutsche Bank AG now owns 30,174 shares of the utilities provider's stock valued at $3,662,000 after purchasing an additional 5,352 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Chesapeake Utilities by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,582 shares of the utilities provider's stock worth $1,527,000 after acquiring an additional 471 shares during the period. ProShare Advisors LLC grew its holdings in Chesapeake Utilities by 3.7% during the fourth quarter. ProShare Advisors LLC now owns 67,678 shares of the utilities provider's stock worth $8,213,000 after acquiring an additional 2,398 shares during the period. Snowden Capital Advisors LLC grew its holdings in Chesapeake Utilities by 9.0% during the fourth quarter. Snowden Capital Advisors LLC now owns 3,618 shares of the utilities provider's stock worth $441,000 after acquiring an additional 299 shares during the period. Finally, Squarepoint Ops LLC acquired a new position in Chesapeake Utilities during the fourth quarter worth $2,479,000. Institutional investors and hedge funds own 83.11% of the company's stock.

Chesapeake Utilities Stock Down 0.4%

Chesapeake Utilities stock opened at $123.79 on Thursday. 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 firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 22.07 and a beta of 0.70. Chesapeake Utilities Corporation has a fifty-two week low of $115.12 and a fifty-two week high of $136.73. The stock's fifty day moving average is $122.96 and its two-hundred day moving average is $124.93.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company 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%.Chesapeake Utilities's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. Analysts predict that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be given a $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, September 15th. Chesapeake Utilities's dividend payout ratio is currently 48.84%.

Analyst Upgrades and Downgrades

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

Chesapeake Utilities Company 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.

Want to see what other hedge funds are holding CPK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chesapeake Utilities Corporation (NYSE:CPK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.