ProShare Advisors LLC Decreases Stake in Chesapeake Utilities Corporation $CPK

ProShare Advisors LLC lessened its holdings in shares of Chesapeake Utilities Corporation (NYSE:CPK) by 7.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 56,838 shares of the utilities provider’s stock after selling 4,316 shares during the period. ProShare Advisors LLC’s holdings in Chesapeake Utilities were worth $6,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CPK. Geneos Wealth Management Inc. lifted its stake 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 buying an additional 164 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in Chesapeake Utilities by 1,909.1% in the 2nd quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 210 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Chesapeake Utilities during the 1st quarter worth approximately $85,000. Belpointe Asset Management LLC purchased a new stake in shares of Chesapeake Utilities in the first quarter valued at approximately $206,000. Finally, Xponance Inc. purchased a new stake in shares of Chesapeake Utilities in the first quarter valued at approximately $217,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Chesapeake Utilities news, CFO Beth W. Cooper sold 5,000 shares of the business’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 owned 90,713 shares of the company’s stock, valued at $11,987,722.95. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.68% of the company’s stock.

Chesapeake Utilities Price Performance

NYSE:CPK opened at $134.93 on Thursday. Chesapeake Utilities Corporation has a 52 week low of $115.12 and a 52 week high of $140.59. The stock’s fifty day moving average is $131.32 and its two-hundred day moving average is $125.96. The company has a market capitalization of $3.19 billion, a P/E ratio of 24.05 and a beta of 0.79. 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 issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). The business had revenue of $179.60 million for the quarter, compared to analyst estimates of $167.30 million. Chesapeake Utilities had a return on equity of 9.20% and a net margin of 14.89%.The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. Equities analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 15th will be issued a $0.685 dividend. This represents a $2.74 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, December 15th. Chesapeake Utilities’s dividend payout ratio (DPR) is 48.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. BTIG Research initiated coverage on Chesapeake Utilities in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Chesapeake Utilities in a research report on Wednesday, October 8th. Finally, Barclays set a $141.00 price objective on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. One 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.com, the stock has an average rating of “Hold” and a consensus target price of $135.00.

About Chesapeake Utilities

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.