Park National Corp OH Makes New Investment in Chesapeake Utilities Corporation $CPK

Key Points

• Park National Corp OH has acquired a new position in Chesapeake Utilities Corporation ($CPK), purchasing 2,300 shares valued at approximately $277,000 during Q2.
• In recent analysis, Barclays has lowered its target price for Chesapeake Utilities from $124.00 to $120.00, maintaining an "equal weight" rating.
• Chesapeake Utilities recently announced a quarterly dividend of $0.685 per share, with an ex-dividend date of September 15th and a current dividend yield of 2.2%.

Park National Corp OH purchased a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,300 shares of the utilities provider's stock, valued at approximately $277,000.

Several other institutional investors have also recently made changes to their positions in CPK. Deutsche Bank AG boosted its stake in shares of Chesapeake Utilities by 21.6% during the 4th quarter. Deutsche Bank AG now owns 30,174 shares of the utilities provider's stock worth $3,662,000 after acquiring an additional 5,352 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Chesapeake Utilities by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,582 shares of the utilities provider's stock worth $1,527,000 after acquiring an additional 471 shares during the period. ProShare Advisors LLC boosted its stake in shares of Chesapeake Utilities by 3.7% during the 4th quarter. ProShare Advisors LLC now owns 67,678 shares of the utilities provider's stock worth $8,213,000 after acquiring an additional 2,398 shares during the period. Snowden Capital Advisors LLC boosted its stake in shares of Chesapeake Utilities by 9.0% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,618 shares of the utilities provider's stock worth $441,000 after acquiring an additional 299 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Chesapeake Utilities during the 4th quarter worth approximately $2,479,000. Institutional investors and hedge funds own 83.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. 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. 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $124.50.

Chesapeake Utilities Stock Performance

NYSE:CPK opened at $125.17 on Friday. The stock has a fifty day moving average price of $123.05 and a 200-day moving average price of $124.91. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 22.31 and a beta of 0.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.36 and a current ratio of 0.42. Chesapeake Utilities Corporation has a fifty-two week low of $115.12 and a fifty-two week high of $136.73.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $192.80 million during the quarter, compared to the consensus estimate of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The company's revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. As a group, equities analysts anticipate that Chesapeake Utilities Corporation will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be given 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 is Monday, September 15th. Chesapeake Utilities's dividend payout ratio is presently 48.84%.

Chesapeake Utilities Company 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.

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