Peregrine Capital Management LLC Has $5.96 Million Stock Position in Chesapeake Utilities Corporation $CPK

Peregrine Capital Management LLC decreased its position in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,590 shares of the utilities provider’s stock after selling 1,663 shares during the period. Peregrine Capital Management LLC’s holdings in Chesapeake Utilities were worth $5,962,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CPK. Spire Wealth Management acquired a new stake in Chesapeake Utilities during the first quarter valued at $26,000. JFS Wealth Advisors LLC raised its holdings in Chesapeake Utilities by 1,909.1% during the second quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock valued at $27,000 after buying an additional 210 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock valued at $28,000 after buying an additional 164 shares in the last quarter. Rossby Financial LCC bought a new position in Chesapeake Utilities during the first quarter valued at about $61,000. Finally, First Horizon Advisors Inc. raised its holdings in Chesapeake Utilities by 53.6% during the first quarter. First Horizon Advisors Inc. now owns 599 shares of the utilities provider’s stock valued at $77,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Insider Buying and Selling at Chesapeake Utilities

In other news, CFO Beth W. Cooper sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $132.15, for a total value of $660,750.00. Following the sale, the chief financial officer directly owned 90,713 shares in the company, valued at approximately $11,987,722.95. This represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BTIG Research assumed coverage on Chesapeake Utilities in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Wednesday, October 8th. Finally, Barclays set a $128.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chesapeake Utilities currently has an average rating of “Hold” and an average price target of $128.50.

Chesapeake Utilities Stock Down 0.3%

CPK stock opened at $131.46 on Tuesday. Chesapeake Utilities Corporation has a twelve month low of $115.12 and a twelve month high of $140.59. The company has a market cap of $3.09 billion, a PE ratio of 23.43 and a beta of 0.74. The business’s 50-day simple moving average is $129.49 and its 200 day simple moving average is $126.09. 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 (NYSE:CPK) last released its earnings results on Thursday, August 7th. The utilities provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The business had revenue of $192.80 million for the quarter, compared to the consensus estimate of $182.45 million. During the same period last year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.35 EPS. On average, research analysts anticipate that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 6th. Stockholders of record on Monday, September 15th were paid a $0.685 dividend. This represents a $2.74 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, September 15th. Chesapeake Utilities’s dividend payout ratio is currently 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.