Curi RMB Capital LLC Purchases 3,179 Shares of Chesapeake Utilities Corporation $CPK

Key Points

• Curi RMB Capital LLC has increased its stake in Chesapeake Utilities Corporation by 2.9%, now owning 112,539 shares valued at approximately $14.5 million.
• Chesapeake Utilities reported an EPS of $1.04 for the last quarter, exceeding expectations and representing a 15.9% year-over-year revenue increase.
• The company plans to pay a quarterly dividend of $0.685 per share on October 6, reflecting an annualized dividend yield of 2.2%.

Curi RMB Capital LLC lifted its position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,539 shares of the utilities provider's stock after buying an additional 3,179 shares during the quarter. Curi RMB Capital LLC owned about 0.48% of Chesapeake Utilities worth $14,514,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Spire Wealth Management acquired a new stake in shares of Chesapeake Utilities during the first quarter worth $26,000. NBC Securities Inc. acquired a new stake in shares of Chesapeake Utilities during the first quarter worth $30,000. Byrne Asset Management LLC increased its position in shares of Chesapeake Utilities by 114.3% during the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after buying an additional 144 shares during the period. Farther Finance Advisors LLC increased its position 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 period. Finally, Rossby Financial LCC acquired a new stake in Chesapeake Utilities in the first quarter worth $61,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CPK. Wall Street Zen cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Barclays reduced their price target on shares of Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. One research 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, Chesapeake Utilities currently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Chesapeake Utilities Stock Up 0.9%

Shares of NYSE CPK traded up $1.13 during mid-day trading on Tuesday, reaching $124.46. 58,216 shares of the company's stock traded hands, compared to its average volume of 113,410. The stock has a market cap of $2.93 billion, a P/E ratio of 22.19 and a beta of 0.70. The business has a 50-day simple moving average of $122.87 and a 200 day simple moving average of $124.94. Chesapeake Utilities Corporation has a 1-year low of $115.12 and a 1-year high of $136.73. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.42 and a quick ratio of 0.36.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $192.80 million during the quarter, compared to analysts' expectations of $182.45 million. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The business's revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. On average, analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

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 issued a dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, September 15th. Chesapeake Utilities's dividend payout ratio (DPR) 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.