Tributary Capital Management LLC Has $15.71 Million Stake in Chesapeake Utilities Corporation $CPK

Key Points

• Tributary Capital Management trimmed its stake in Chesapeake Utilities by 7%, leaving it with 125,912 shares worth about $15.71 million, roughly 0.53% of the company and about 1.5% of Tributary’s portfolio (its 28th largest holding).
• Chesapeake missed quarterly EPS expectations at $1.94 versus a $2.16 consensus but reported revenue of $258.9 million (up 20.4% year-over-year) and set FY2028 EPS guidance of $7.75–$8.00.
• The company pays a quarterly dividend of $0.685 ($2.74 annualized, ~2.2% yield, 45.8% payout ratio) and carries an average analyst rating of Hold with a consensus price target of $140 versus the recent share price near $126.52.

Tributary Capital Management LLC trimmed its position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,912 shares of the utilities provider's stock after selling 9,409 shares during the period. Chesapeake Utilities makes up approximately 1.5% of Tributary Capital Management LLC's investment portfolio, making the stock its 28th largest position. Tributary Capital Management LLC owned about 0.53% of Chesapeake Utilities worth $15,709,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CPK. EverSource Wealth Advisors LLC grew its stake in Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider's stock worth $27,000 after buying an additional 108 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Chesapeake Utilities by 292.9% in the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider's stock worth $28,000 after acquiring an additional 164 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Chesapeake Utilities by 66.1% in the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider's stock worth $37,000 after acquiring an additional 109 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Chesapeake Utilities by 77.4% in the third quarter. Hantz Financial Services Inc. now owns 298 shares of the utilities provider's stock worth $40,000 after acquiring an additional 130 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Chesapeake Utilities in the third quarter worth about $62,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Stock Down 0.7%

Chesapeake Utilities stock opened at $126.52 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.40 and a current ratio of 0.45. Chesapeake Utilities Corporation has a 52-week low of $115.24 and a 52-week high of $140.59. The firm has a 50 day moving average price of $130.46 and a two-hundred day moving average price of $130.30. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 21.16 and a beta of 0.77.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($0.22). The firm had revenue of $258.90 million for the quarter, compared to the consensus estimate of $208.59 million. Chesapeake Utilities had a return on equity of 9.31% and a net margin of 15.09%.The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. Equities analysts predict that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Monday, March 16th were given a $0.685 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.74 annualized dividend and a yield of 2.2%. Chesapeake Utilities's dividend payout ratio (DPR) is presently 45.82%.

Analysts Set New Price Targets

CPK has been the subject of a number of research reports. Wall Street Zen raised shares of Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Barclays reissued a "reduce" rating and issued a $140.00 target price (down from $141.00) on shares of Chesapeake Utilities in a report on Tuesday, February 24th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Chesapeake Utilities in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chesapeake Utilities has an average rating of "Hold" and a consensus price target of $140.00.

Chesapeake Utilities Profile

Chesapeake Utilities Corporation NYSE: CPK is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.

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