Raymond James Financial Inc. Purchases 4,817 Shares of Chesapeake Utilities Corporation $CPK

Key Points

• Raymond James Financial Inc. increased its stake in Chesapeake Utilities Corporation by 11.4%, owning 46,926 shares worth approximately $6.03 million as of its latest SEC filing.
• Chesapeake Utilities recently announced a quarterly dividend of $0.685 per share, yielding about 2.2%, with the payout set for October 6th.
• Chesapeake Utilities reported a 15.9% year-over-year revenue increase in its latest earnings, achieving $1.04 EPS and surpassing analyst expectations.

Raymond James Financial Inc. lifted its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,926 shares of the utilities provider's stock after purchasing an additional 4,817 shares during the period. Raymond James Financial Inc. owned about 0.20% of Chesapeake Utilities worth $6,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPK. Principal Financial Group Inc. increased its holdings in shares of Chesapeake Utilities by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 113,431 shares of the utilities provider's stock worth $14,568,000 after buying an additional 2,989 shares during the last quarter. Spire Wealth Management bought a new position in shares of Chesapeake Utilities in the first quarter valued at approximately $26,000. Fifth Third Bancorp raised its stake in Chesapeake Utilities by 28.8% during the 1st quarter. Fifth Third Bancorp now owns 864 shares of the utilities provider's stock worth $111,000 after buying an additional 193 shares during the period. SG Americas Securities LLC bought a new position in shares of Chesapeake Utilities during the 1st quarter worth approximately $512,000. Finally, LPL Financial LLC boosted its stake in Chesapeake Utilities by 14.8% in the first quarter. LPL Financial LLC now owns 15,750 shares of the utilities provider's stock valued at $2,023,000 after buying an additional 2,033 shares in the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Price Performance

Shares of CPK stock traded down $2.19 during trading hours on Monday, reaching $123.40. The company had a trading volume of 23,138 shares, compared to its average volume of 113,330. The stock has a fifty day moving average of $122.80 and a 200-day moving average of $124.94. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.36 and a current ratio of 0.42. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 21.95 and a beta of 0.70. Chesapeake Utilities Corporation has a 12-month low of $115.12 and a 12-month high of $136.73.

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

Chesapeake Utilities Dividend Announcement

The company 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 $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, September 15th. Chesapeake Utilities's dividend payout ratio (DPR) is 48.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CPK shares. Wall Street Zen cut Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Barclays decreased their price objective on Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Chesapeake Utilities currently has a consensus rating of "Moderate Buy" and an average target price of $124.50.

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.