Chesapeake Utilities Corporation $CPK Shares Acquired by UBS Group AG

UBS Group AG lifted its position in shares of Chesapeake Utilities Corporation (NYSE:CPKFree Report) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,034 shares of the utilities provider’s stock after acquiring an additional 15,140 shares during the quarter. UBS Group AG’s holdings in Chesapeake Utilities were worth $12,231,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Chesapeake Utilities by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 2,020,146 shares of the utilities provider’s stock worth $252,033,000 after purchasing an additional 49,789 shares during the period. State Street Corp grew its holdings in Chesapeake Utilities by 0.8% in the second quarter. State Street Corp now owns 1,257,589 shares of the utilities provider’s stock valued at $152,023,000 after purchasing an additional 9,556 shares during the period. Wellington Management Group LLP grew its holdings in Chesapeake Utilities by 27.6% in the third quarter. Wellington Management Group LLP now owns 952,045 shares of the utilities provider’s stock valued at $128,231,000 after purchasing an additional 205,742 shares during the period. Invesco Ltd. increased its position in shares of Chesapeake Utilities by 3.0% in the third quarter. Invesco Ltd. now owns 590,793 shares of the utilities provider’s stock valued at $79,574,000 after buying an additional 16,993 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Chesapeake Utilities by 831.0% in the third quarter. Alliancebernstein L.P. now owns 511,428 shares of the utilities provider’s stock valued at $68,884,000 after buying an additional 456,497 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Utilities Price Performance

Shares of Chesapeake Utilities stock opened at $127.69 on Friday. The stock has a market capitalization of $3.06 billion, a P/E ratio of 20.46 and a beta of 0.71. The business has a 50 day simple moving average of $127.86 and a two-hundred day simple moving average of $129.27. Chesapeake Utilities Corporation has a 12 month low of $116.30 and a 12 month high of $140.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.39.

Chesapeake Utilities (NYSE:CPKGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.The firm had revenue of $353.10 million for the quarter, compared to analyst estimates of $339.86 million. During the same period in the previous year, the company posted $2.22 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. As a group, analysts predict that Chesapeake Utilities Corporation will post 6.51 EPS for the current fiscal year.

Chesapeake Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.735 per share. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.94 annualized dividend and a yield of 2.3%. Chesapeake Utilities’s dividend payout ratio is presently 43.91%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CPK shares. Wall Street Zen upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 7th. Wells Fargo & Company began coverage on shares of Chesapeake Utilities in a research report on Tuesday. They set an “equal weight” rating and a $132.00 price objective for the company. Finally, Barclays set a $142.00 price objective on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $137.00.

Check Out Our Latest Stock Analysis on CPK

Chesapeake Utilities Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Chesapeake Utilities (NYSE:CPK)

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