Dynamic Technology Lab Private Ltd Makes New Investment in Chesapeake Utilities Corporation $CPK

Key Points

• Dynamic Technology Lab Private Ltd has made a new investment in Chesapeake Utilities Corporation, acquiring 2,822 shares valued at approximately $362,000 in the 1st quarter.
• Chesapeake Utilities reported earnings of $1.04 per share for the recent quarter, exceeding analysts' expectations of $1.00, with a revenue increase of 15.9% year-over-year.
• The company announced a quarterly dividend of $0.685 per share, which will be paid on October 6th, representing a 2.2% annualized yield.

Dynamic Technology Lab Private Ltd purchased a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,822 shares of the utilities provider's stock, valued at approximately $362,000.

Other large investors also recently modified their holdings of the company. Spire Wealth Management bought a new position in shares of Chesapeake Utilities during the 1st quarter worth approximately $26,000. NBC Securities Inc. acquired a new position in Chesapeake Utilities during the first quarter worth $30,000. Byrne Asset Management LLC lifted its holdings 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 valued at $35,000 after acquiring an additional 144 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Chesapeake Utilities by 50.7% in the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 106 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in shares of Chesapeake Utilities in the 1st quarter worth about $61,000. 83.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Barclays dropped 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 research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Chesapeake Utilities has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.

Chesapeake Utilities Price Performance

Shares of CPK traded up $2.04 during mid-day trading on Thursday, hitting $126.49. 156,015 shares of the company traded hands, compared to its average volume of 107,256. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 22.55 and a beta of 0.70. The business has a 50-day moving average of $123.20 and a 200 day moving average of $124.85. Chesapeake Utilities Corporation has a one year low of $115.12 and a one year high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 9.20% and a net margin of 14.89%.The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. As a group, equities analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be paid a $0.685 dividend. This represents a $2.74 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 15th. Chesapeake Utilities's dividend payout ratio 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.