Wellington Management Group LLP Acquires Shares of 204,770 Chesapeake Utilities Corporation $CPK

Key Points

• Wellington Management Group LLP acquired a new stake in Chesapeake Utilities, purchasing 204,770 shares valued at approximately $26.3 million, representing 0.88% ownership of the company.
• Chesapeake Utilities recently declared a quarterly dividend of $0.685 per share, with an annualized dividend yield of 2.2%, to be paid on October 6th.
• The company reported $1.04 earnings per share for the last quarter, exceeding the consensus estimate of $1.00, and recorded a 15.9% year-over-year revenue increase.

Wellington Management Group LLP bought a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 204,770 shares of the utilities provider's stock, valued at approximately $26,299,000. Wellington Management Group LLP owned 0.88% of Chesapeake Utilities as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Spire Wealth Management acquired a new stake in Chesapeake Utilities in the first quarter valued at approximately $26,000. NBC Securities Inc. purchased a new position in Chesapeake Utilities during the first quarter worth approximately $30,000. Byrne Asset Management LLC raised its position in Chesapeake Utilities by 114.3% in the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock valued at $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 first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 106 shares during the period. Finally, Rossby Financial LCC purchased a new stake in shares of Chesapeake Utilities in the 1st quarter valued at $61,000. 83.11% of the stock is owned by institutional investors and hedge funds.

Chesapeake Utilities Trading Up 0.2%

Shares of CPK stock traded up $0.31 during mid-day trading on Friday, hitting $123.75. 28,866 shares of the company's stock were exchanged, compared to its average volume of 113,611. Chesapeake Utilities Corporation has a fifty-two week low of $115.12 and a fifty-two week high of $136.73. The stock has a 50-day simple moving average of $122.56 and a two-hundred day simple moving average of $124.88. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 22.04 and a beta of 0.66.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 earnings per share (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 analysts' expectations of $182.45 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The business's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. 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 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Investors 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%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CPK. Barclays lowered their target price on Chesapeake Utilities from $124.00 to $120.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. LADENBURG THALM/SH SH raised Chesapeake Utilities to a "strong-buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen downgraded Chesapeake Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $124.50.

Chesapeake Utilities 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.