Raymond James Financial Inc. Buys 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. raised its holdings in Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,926 shares of the utilities provider's stock after buying an additional 4,817 shares during the quarter. Raymond James Financial Inc. owned 0.20% of Chesapeake Utilities worth $6,027,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management acquired a new position in Chesapeake Utilities in the first quarter valued at approximately $26,000. NBC Securities Inc. acquired a new position in Chesapeake Utilities in the first quarter valued at approximately $30,000. Byrne Asset Management LLC raised its position in shares of Chesapeake Utilities by 114.3% during the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after purchasing an additional 144 shares during the period. Farther Finance Advisors LLC raised its position in shares of Chesapeake Utilities by 50.7% during the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock worth $41,000 after purchasing an additional 106 shares during the period. Finally, Rossby Financial LCC acquired a new position in shares of Chesapeake Utilities during the first quarter worth approximately $61,000. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Performance

CPK stock traded up $0.49 during mid-day trading on Tuesday, hitting $123.82. The company had a trading volume of 20,761 shares, compared to its average volume of 113,190. The firm has a market cap of $2.91 billion, a PE ratio of 21.98 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 12 month low of $115.12 and a 12 month high of $136.73. The stock's fifty day moving average price is $122.87 and its two-hundred day moving average price is $124.94.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $192.80 million for the quarter, compared to analyst estimates of $182.45 million. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous 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, analysts forecast that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.685 per share. 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 is presently 48.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CPK shares. Barclays lowered their target price on Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen downgraded Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.