Russell Investments Group Ltd. Buys 4,702 Shares of 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. lifted its stake in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 11.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 45,666 shares of the utilities provider's stock after acquiring an additional 4,702 shares during the period. Russell Investments Group Ltd. owned approximately 0.20% of Chesapeake Utilities worth $5,865,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CPK. Spire Wealth Management purchased a new position in Chesapeake Utilities in the 1st quarter worth $26,000. NBC Securities Inc. purchased a new position in Chesapeake Utilities in the 1st quarter worth $30,000. Byrne Asset Management LLC raised its position in Chesapeake Utilities by 114.3% in the 1st 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 Chesapeake Utilities by 50.7% in the 1st 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 purchased a new position in Chesapeake Utilities in the 1st quarter worth $61,000. 83.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CPK shares. LADENBURG THALM/SH SH upgraded shares of Chesapeake Utilities to a "strong-buy" rating in a research report on Friday, May 9th. Barclays decreased their target price on shares of 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. Finally, Wall Street Zen cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.50.

Chesapeake Utilities Trading Down 0.4%

Shares of CPK stock traded down $0.52 during mid-day trading on Tuesday, reaching $123.90. The stock had a trading volume of 129,220 shares, compared to its average volume of 100,003. The stock's 50-day moving average price is $122.44 and its two-hundred day moving average price is $124.88. The firm has a market capitalization of $2.92 billion, a PE ratio of 22.09 and a beta of 0.66. The company has a current ratio of 0.42, a quick ratio of 0.36 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.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced 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 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. Equities analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share 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 paid a dividend of $0.685 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.2%. Chesapeake Utilities's 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.