Russell Investments Group Ltd. Increases Stake in Chesapeake Utilities Corporation $CPK

Key Points

• Russell Investments Group Ltd. increased its stake in Chesapeake Utilities Corporation by 11.5%, acquiring an additional 4,702 shares to bring its total holdings to 45,666 shares worth approximately $5.87 million.
• Several institutional investors significantly boosted their positions, with GAMMA Investing LLC increasing its stake by a remarkable 13,619.7%, now owning 148,722 shares valued at $19.1 million.
• Chesapeake Utilities recently reported $1.04 EPS for the last quarter, surpassing analyst expectations, with an anticipated fiscal year 2025 EPS guidance of 6.150-6.35.

Russell Investments Group Ltd. grew its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,666 shares of the utilities provider's stock after acquiring an additional 4,702 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Chesapeake Utilities worth $5,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC boosted 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 valued at $66,556,000 after acquiring an additional 23,053 shares during the last quarter. Invesco Ltd. raised its position in shares of Chesapeake Utilities by 4.6% during 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. Northern Trust Corp raised its position in shares of Chesapeake Utilities by 9.0% during 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. Charles Schwab Investment Management Inc. raised its position in shares of Chesapeake Utilities by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 271,788 shares of the utilities provider's stock worth $34,906,000 after purchasing an additional 1,902 shares during the period. Finally, GAMMA Investing LLC raised its position in Chesapeake Utilities by 13,619.7% in the 1st quarter. GAMMA Investing LLC now owns 148,722 shares of the utilities provider's stock valued at $19,100,000 after buying an additional 147,638 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Price Performance

Shares of NYSE CPK traded down $2.3430 during trading hours on Monday, reaching $124.8470. 18,511 shares of the stock traded hands, compared to its average volume of 113,941. The company has a market capitalization of $2.94 billion, a P/E ratio of 22.23 and a beta of 0.66. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. Chesapeake Utilities Corporation has a 52-week low of $115.12 and a 52-week high of $136.73. The company's 50-day simple moving average is $122.23 and its two-hundred day simple moving average is $124.88.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $192.80 million for the quarter, compared to analysts' expectations of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.Chesapeake Utilities's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.86 EPS. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. Equities research analysts forecast that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be paid a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, September 15th. Chesapeake Utilities's payout ratio is 48.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CPK shares. Barclays decreased their target price on Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating for the company in a research report 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. Finally, LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Chesapeake Utilities presently has an average rating of "Moderate Buy" and a consensus price target 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.