Magellan Asset Management Ltd Takes Position in Chesapeake Utilities Corporation $CPK

Key Points

• Magellan Asset Management acquired 17,200 shares of Chesapeake Utilities in the second quarter, worth approximately $2.1 million. Institutional investors collectively own 83.11% of the company, with BlackRock reporting the largest new position at about $459.2 million.
• Chesapeake Utilities reported quarterly revenue of $201.9 million, up 4.7% year over year and above estimates, but earnings per share of $1.05 fell short of the $1.07 consensus forecast.
• The company declared a quarterly dividend of $0.735, equivalent to $2.94 annually and a 2.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $138, compared with the stock’s reported price of $134.15.

Magellan Asset Management Ltd acquired a new position in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,200 shares of the utilities provider's stock, valued at approximately $2,107,000. Magellan Asset Management Ltd owned 0.07% of Chesapeake Utilities as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPK. Clear Harbor Asset Management LLC acquired a new position in Chesapeake Utilities during the 2nd quarter valued at about $6,069,000. Allworth Financial LP acquired a new stake in shares of Chesapeake Utilities in the 2nd quarter worth approximately $67,000. First National Bank of Omaha bought a new position in shares of Chesapeake Utilities in the second quarter valued at approximately $485,000. Energy Income Partners LLC acquired a new position in shares of Chesapeake Utilities during the second quarter valued at approximately $25,080,000. Finally, BlackRock Inc. acquired a new position in shares of Chesapeake Utilities during the second quarter valued at approximately $459,185,000. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Trading Up 0.0%

Shares of NYSE CPK opened at $134.15 on Monday. Chesapeake Utilities Corporation has a 12 month low of $118.88 and a 12 month high of $140.83. The business has a fifty day simple moving average of $129.87 and a 200-day simple moving average of $128.86. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 21.40 and a beta of 0.68. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.02). Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. The business had revenue of $201.90 million for the quarter, compared to analysts' expectations of $198.91 million. During the same quarter in the prior year, the firm posted $1.04 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. Sell-side analysts predict that Chesapeake Utilities Corporation will post 6.42 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Monday, September 14th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 14th. Chesapeake Utilities's dividend payout ratio (DPR) is presently 46.89%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CPK. Weiss Ratings upgraded Chesapeake Utilities from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 10th. Wells Fargo & Company lifted their price target on Chesapeake Utilities from $132.00 to $134.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $138.00.

Chesapeake Utilities Profile

Chesapeake Utilities Corporation NYSE: CPK is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.

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