LPL Financial LLC Has $2.02 Million Holdings in Chesapeake Utilities Corporation $CPK

Key Points

• LPL Financial LLC increased its stake in Chesapeake Utilities Corporation by 14.8%, owning approximately 0.07% of the company, valued at $2.02 million.
• Chesapeake Utilities reported a net margin of 14.89% and quarterly revenue of $192.80 million, surpassing analysts' estimates.
• The company declared a quarterly dividend of $0.685, with an annualized yield of 2.2%, set to be paid on October 6th.

LPL Financial LLC lifted its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 14.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,750 shares of the utilities provider's stock after purchasing an additional 2,033 shares during the quarter. LPL Financial LLC owned 0.07% of Chesapeake Utilities worth $2,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CPK. Farther Finance Advisors LLC grew its stake 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 buying an additional 106 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Chesapeake Utilities by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,313 shares of the utilities provider's stock valued at $281,000 after acquiring an additional 109 shares in the last quarter. Byrne Asset Management LLC grew its position in Chesapeake Utilities by 114.3% during the 1st quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after acquiring an additional 144 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Chesapeake Utilities by 3.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,396 shares of the utilities provider's stock worth $533,000 after purchasing an additional 153 shares in the last quarter. Finally, Cable Hill Partners LLC raised its position in Chesapeake Utilities by 10.8% in the first quarter. Cable Hill Partners LLC now owns 1,821 shares of the utilities provider's stock valued at $240,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CPK. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th. Barclays reduced their target price on shares of Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $124.50.

Chesapeake Utilities Trading Up 2.2%

NYSE:CPK traded up $2.7470 on Friday, reaching $127.3570. 108,558 shares of the stock traded hands, compared to its average volume of 101,393. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.83. Chesapeake Utilities Corporation has a 1-year low of $112.92 and a 1-year high of $136.73. The company's 50 day moving average is $122.23 and its 200-day moving average is $124.88. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 22.70 and a beta of 0.66.

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, beating 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 company had revenue of $192.80 million for the quarter, compared to analyst estimates of $182.45 million. During the same period in the prior year, the firm posted $0.86 EPS. The company's quarterly revenue was up 15.9% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. Equities research analysts anticipate that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be issued 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 presently 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.