Nuveen LLC Invests $12.97 Million in Chesapeake Utilities Corporation $CPK

Key Points

• Nuveen LLC has made a significant investment of $12.97 million in Chesapeake Utilities Corporation, acquiring approximately 100,968 shares, representing about 0.44% ownership of the company.
• The stock has seen moderate analyst rating fluctuations, with Barclays lowering their target price to $120 while LADENBURG THALM/SH SH upgraded it to a "strong-buy" rating.
• Chesapeake Utilities plans to pay a quarterly dividend of $0.685 per share, yielding approximately 2.2%, with a payout ratio of 48.84% as of the last earnings report.

Nuveen LLC purchased a new position in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,968 shares of the utilities provider's stock, valued at approximately $12,967,000. Nuveen LLC owned 0.44% of Chesapeake Utilities at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CPK. GAMMA Investing LLC grew its holdings in Chesapeake Utilities by 13,619.7% in the first quarter. GAMMA Investing LLC now owns 148,722 shares of the utilities provider's stock worth $19,100,000 after purchasing an additional 147,638 shares during the period. Raymond James Financial Inc. acquired a new stake in Chesapeake Utilities in the fourth quarter worth $5,110,000. Northern Trust Corp grew its holdings in Chesapeake Utilities by 9.0% in the fourth quarter. Northern Trust Corp now owns 281,910 shares of the utilities provider's stock worth $34,210,000 after purchasing an additional 23,160 shares during the period. Jennison Associates LLC grew its holdings in Chesapeake Utilities by 4.7% in the first quarter. Jennison Associates LLC now owns 518,231 shares of the utilities provider's stock worth $66,556,000 after purchasing an additional 23,053 shares during the period. Finally, Invesco Ltd. grew its holdings in Chesapeake Utilities by 4.6% in the first quarter. Invesco Ltd. now owns 485,822 shares of the utilities provider's stock worth $62,394,000 after purchasing an additional 21,143 shares during the period. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on CPK shares. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th. Barclays dropped their price objective on shares of Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered shares of 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.50.

Chesapeake Utilities Stock Performance

NYSE CPK traded down $1.02 during trading hours on Tuesday, reaching $123.40. 37,274 shares of the company were exchanged, compared to its average volume of 113,749. Chesapeake Utilities Corporation has a 1 year low of $115.12 and a 1 year high of $136.73. The business's 50 day simple moving average is $122.34 and its 200-day simple moving average is $124.89. 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 stock has a market capitalization of $2.90 billion, a P/E ratio of 22.00 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The business had revenue of $192.80 million during the quarter, compared to the consensus estimate of $182.45 million. During the same quarter last year, the company posted $0.86 earnings per share. The firm's quarterly 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. On average, equities research analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

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