M&T Bank Corp Purchases Shares of 23,085 Chesapeake Utilities Corporation $CPK

Key Points

• M&T Bank Corp bought a new stake of 23,085 shares in Chesapeake Utilities (NYSE:CPK) in Q4, worth about $2.88 million and representing roughly 0.10% ownership.
• Chesapeake reported Q results with $1.94 EPS (missing estimates of $2.16) while revenue rose 20.4% to $258.9 million, and the company set FY2028 guidance of 7.75–8.00 EPS versus analysts' current-year estimate of 6.51.
• Analysts' consensus is a "Moderate Buy" with an average target of $142; the stock trades near $127, has a $3.05 billion market cap and yields about 2.2% (annual dividend $2.74).

M&T Bank Corp purchased a new stake in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,085 shares of the utilities provider's stock, valued at approximately $2,880,000. M&T Bank Corp owned 0.10% of Chesapeake Utilities at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of Chesapeake Utilities by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,416 shares of the utilities provider's stock valued at $327,000 after purchasing an additional 89 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Chesapeake Utilities by 4.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,231 shares of the utilities provider's stock valued at $301,000 after purchasing an additional 96 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Chesapeake Utilities by 94.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 108 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Chesapeake Utilities by 66.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 109 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Chesapeake Utilities by 5.9% in the 4th quarter. GAMMA Investing LLC now owns 2,221 shares of the utilities provider's stock valued at $277,000 after acquiring an additional 123 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays set a $142.00 price objective on Chesapeake Utilities and gave the company an "equal weight" rating in a report on Monday, April 20th. Wall Street Zen upgraded Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Chesapeake Utilities in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.00.

Chesapeake Utilities Trading Down 0.4%

Chesapeake Utilities stock opened at $127.16 on Tuesday. Chesapeake Utilities Corporation has a 52 week low of $115.24 and a 52 week high of $140.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.40 and a current ratio of 0.45. The stock has a market capitalization of $3.05 billion, a P/E ratio of 21.26 and a beta of 0.77. The stock has a 50-day simple moving average of $129.73 and a 200 day simple moving average of $129.81.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.16 by ($0.22). Chesapeake Utilities had a return on equity of 9.31% and a net margin of 15.09%.The business had revenue of $258.90 million for the quarter, compared to the consensus estimate of $208.59 million. During the same quarter in the previous year, the business posted $1.63 EPS. The company's revenue for the quarter was up 20.4% on a year-over-year basis. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. Analysts expect that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Monday, March 16th were 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 was Monday, March 16th. Chesapeake Utilities's payout ratio is currently 45.82%.

Chesapeake Utilities Company 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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