Clear Harbor Asset Management LLC Purchases Shares of 49,549 Chesapeake Utilities Corporation $CPK

Key Points

• Clear Harbor Asset Management acquired 49,549 Chesapeake Utilities shares worth approximately $6.1 million, representing about 0.21% of the company. Institutional investors collectively own 83.11% of CPK.
• Analysts maintain a mixed outlook: Chesapeake Utilities has a consensus “Hold” rating and a $138 price target, with targets ranging from a Wells Fargo upgrade to $134 to a separate downgrade to “Sell.”
• The company slightly missed quarterly earnings expectations, reporting $1.05 EPS versus $1.07 expected, while revenue rose 4.7% year over year to $201.9 million. Chesapeake also declared a quarterly dividend of $0.735 per share, equal to a 2.2% yield.

Clear Harbor Asset Management LLC acquired a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 49,549 shares of the utilities provider's stock, valued at approximately $6,069,000. Clear Harbor Asset Management LLC owned approximately 0.21% of Chesapeake Utilities as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. M&T Bank Corp bought a new position in Chesapeake Utilities during the 4th quarter valued at $2,880,000. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Chesapeake Utilities by 54.4% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 202,264 shares of the utilities provider's stock worth $25,234,000 after acquiring an additional 71,242 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Chesapeake Utilities by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 2,020,146 shares of the utilities provider's stock valued at $252,033,000 after purchasing an additional 49,789 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Chesapeake Utilities during the first quarter worth about $1,219,000. Finally, Moody Aldrich Partners LLC boosted its holdings in Chesapeake Utilities by 31.7% during the fourth quarter. Moody Aldrich Partners LLC now owns 45,737 shares of the utilities provider's stock worth $5,706,000 after purchasing an additional 10,997 shares during the last quarter. Institutional investors own 83.11% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CPK. Wells Fargo & Company upped their price objective on shares of Chesapeake Utilities from $132.00 to $134.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Weiss Ratings upgraded Chesapeake Utilities from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 10th. Finally, Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $138.00.

Chesapeake Utilities Trading Down 2.5%

Shares of CPK stock opened at $134.15 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79. The firm has a market cap of $3.23 billion, a P/E ratio of 21.40 and a beta of 0.68. The company has a 50 day moving average of $129.87 and a 200-day moving average of $128.85. Chesapeake Utilities Corporation has a 12-month low of $118.88 and a 12-month high of $140.83.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). The firm had revenue of $201.90 million during the quarter, compared to analysts' expectations of $198.91 million. Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. Chesapeake Utilities's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.04 EPS. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. Sell-side analysts anticipate that Chesapeake Utilities Corporation will post 6.42 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $2.94 annualized dividend and a yield of 2.2%. Chesapeake Utilities's dividend payout ratio is 46.89%.

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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