New York State Teachers Retirement System Increases Stake in Chesapeake Utilities Corporation $CPK

New York State Teachers Retirement System boosted its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,757 shares of the utilities provider’s stock after purchasing an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Chesapeake Utilities were worth $692,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in Chesapeake Utilities during the 1st quarter valued at about $26,000. Geneos Wealth Management Inc. boosted its holdings in shares of Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 164 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Chesapeake Utilities by 1,909.1% during the 2nd quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 210 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Chesapeake Utilities by 50.7% during the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 106 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Chesapeake Utilities during the 1st quarter valued at about $61,000. 83.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chesapeake Utilities news, CFO Beth W. Cooper sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $132.15, for a total transaction of $660,750.00. Following the sale, the chief financial officer owned 90,713 shares in the company, valued at approximately $11,987,722.95. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CPK shares. Barclays set a $128.00 price target on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a report on Tuesday, October 14th. BTIG Research started coverage on shares of Chesapeake Utilities in a report on Tuesday. They set a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $128.50.

Chesapeake Utilities Stock Performance

CPK opened at $131.66 on Thursday. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 0.83. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 23.47 and a beta of 0.74. The company’s 50 day moving average is $129.08 and its 200 day moving average is $125.98. Chesapeake Utilities Corporation has a 12-month low of $115.12 and a 12-month high of $140.59.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $192.80 million for the quarter, compared to the consensus estimate of $182.45 million. Chesapeake Utilities had a net margin of 14.89% and a return on equity of 9.20%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last 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, equities research analysts predict that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Monday, September 15th were paid a dividend of $0.685 per share. The ex-dividend date was Monday, September 15th. This represents a $2.74 dividend on an annualized basis and a yield of 2.1%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.84%.

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.