Chesapeake Utilities Corporation $CPK Holdings Increased by Curi RMB Capital LLC

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 grew its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,539 shares of the utilities provider's stock after acquiring an additional 3,179 shares during the period. Curi RMB Capital LLC owned about 0.48% of Chesapeake Utilities worth $14,514,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CPK. Principal Financial Group Inc. increased its position in shares of Chesapeake Utilities by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 113,431 shares of the utilities provider's stock worth $14,568,000 after purchasing an additional 2,989 shares during the last quarter. Spire Wealth Management acquired a new position in Chesapeake Utilities in the first quarter worth about $26,000. Fifth Third Bancorp increased its holdings in Chesapeake Utilities by 28.8% in the first quarter. Fifth Third Bancorp now owns 864 shares of the utilities provider's stock valued at $111,000 after buying an additional 193 shares during the last quarter. SG Americas Securities LLC bought a new stake in Chesapeake Utilities in the first quarter valued at about $512,000. Finally, LPL Financial LLC raised its stake in Chesapeake Utilities by 14.8% during the first quarter. LPL Financial LLC now owns 15,750 shares of the utilities provider's stock valued at $2,023,000 after buying an additional 2,033 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CPK. Wall Street Zen downgraded Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Barclays decreased their price objective 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 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Chesapeake Utilities Stock Performance

NYSE CPK traded down $2.13 during trading hours on Monday, hitting $123.46. The company had a trading volume of 92,486 shares, compared to its average volume of 113,745. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.91 billion, a P/E ratio of 22.01 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 business has a fifty day simple moving average of $122.80 and a 200-day simple moving average of $124.94.

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

Chesapeake Utilities Announces Dividend

The firm also recently declared 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 of this dividend is Monday, September 15th. Chesapeake Utilities's payout ratio is 48.84%.

Chesapeake Utilities 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.