Invesco Ltd. Raises Stake in Chesapeake Utilities Corporation $CPK

Key Points

• Invesco Ltd. increased its stake in Chesapeake Utilities Corporation by 4.6%, acquiring an additional 21,143 shares, bringing its total to approximately 485,822 shares valued at about $62.39 million.
• Chesapeake Utilities announced a quarterly dividend of $0.685 per share, with an annualized yield of 2.2%, to be paid on October 6th to shareholders of record on September 15th.
• Analyst ratings for Chesapeake Utilities varied, with Wall Street Zen downgrading the stock to "sell," while LADENBURG THALM/SH SH upgraded it to "strong-buy."

Invesco Ltd. raised its stake in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 485,822 shares of the utilities provider's stock after acquiring an additional 21,143 shares during the quarter. Invesco Ltd. owned approximately 2.11% of Chesapeake Utilities worth $62,394,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CPK. Wells Fargo & Company MN lifted its holdings in Chesapeake Utilities by 9.1% in the fourth quarter. Wells Fargo & Company MN now owns 43,258 shares of the utilities provider's stock valued at $5,249,000 after acquiring an additional 3,600 shares during the period. Federated Hermes Inc. raised its stake in shares of Chesapeake Utilities by 587.1% during the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after buying an additional 182 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chesapeake Utilities during the 4th quarter worth approximately $5,110,000. Sterling Capital Management LLC raised its stake in shares of Chesapeake Utilities by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider's stock worth $85,000 after buying an additional 620 shares during the period. Finally, Summit Investment Advisors Inc. raised its stake in shares of Chesapeake Utilities by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,313 shares of the utilities provider's stock worth $281,000 after buying an additional 109 shares during the period. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Price Performance

NYSE CPK traded up $0.11 during mid-day trading on Thursday, hitting $124.63. The stock had a trading volume of 60,456 shares, compared to its average volume of 105,393. The firm's 50 day moving average is $122.06 and its 200 day moving average is $124.85. Chesapeake Utilities Corporation has a twelve month low of $112.92 and a twelve month 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. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 22.22 and a beta of 0.66.

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 the consensus estimate of $1.00 by $0.04. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The firm had revenue of $192.80 million during the quarter, compared to the consensus estimate of $182.45 million. During the same period in the prior year, the company earned $0.86 EPS. The firm's revenue was up 15.9% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. Equities research analysts forecast that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Investors 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 currently 48.84%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CPK shares. Barclays reduced their target price on Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

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.