Connor Clark & Lunn Investment Management Ltd. acquired a new position in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,209 shares of the utilities provider's stock, valued at approximately $797,000.
Other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of Chesapeake Utilities by 587.1% in the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after purchasing an additional 182 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Chesapeake Utilities in the first quarter worth about $26,000. NBC Securities Inc. purchased a new position in shares of Chesapeake Utilities in the first quarter worth about $30,000. Byrne Asset Management LLC raised its stake in shares of Chesapeake Utilities by 114.3% in the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after purchasing an additional 144 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Chesapeake Utilities by 50.7% in the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock worth $41,000 after purchasing an additional 106 shares during the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Wall Street Zen cut Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th. Finally, Barclays reduced their price target on Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.50.
Get Our Latest Stock Report on Chesapeake Utilities
Chesapeake Utilities Price Performance
Shares of Chesapeake Utilities stock traded up $2.2270 on Friday, reaching $126.8370. The company's stock had a trading volume of 20,652 shares, compared to its average volume of 113,968. The company has a market capitalization of $2.99 billion, a P/E ratio of 22.64 and a beta of 0.66. Chesapeake Utilities Corporation has a 52-week low of $112.92 and a 52-week high of $136.73. The stock has a 50-day moving average price of $122.06 and a 200-day moving average price of $124.85. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83.
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. The business had revenue of $192.80 million during the quarter, compared to analysts' expectations of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The business's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. Analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.
Chesapeake Utilities Dividend Announcement
The firm 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. The ex-dividend date 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 48.84%.
Chesapeake Utilities Profile
(
Free Report)
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.
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