Chesapeake Utilities (NYSE:CPK) CEO Sells $950,550.00 in Stock

Chesapeake Utilities Corporation (NYSE:CPK) CEO Jeffry Householder sold 7,500 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $126.74, for a total transaction of $950,550.00. Following the transaction, the chief executive officer owned 64,416 shares in the company, valued at approximately $8,164,083.84. The trade was a 10.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Chesapeake Utilities Stock Up 0.4%

CPK traded up $0.48 during midday trading on Thursday, reaching $128.90. 102,641 shares of the company were exchanged, compared to its average volume of 122,632. The company’s fifty day moving average price is $132.68 and its 200 day moving average price is $127.17. Chesapeake Utilities Corporation has a one year low of $115.12 and a one year high of $140.59. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 22.81 and a beta of 0.79. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.55 and a current ratio of 0.62.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Thursday, November 6th. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). The firm had revenue of $179.60 million for the quarter, compared to analysts’ expectations of $167.30 million. Chesapeake Utilities had a net margin of 14.77% and a return on equity of 9.03%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 EPS. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. As a group, analysts expect that Chesapeake Utilities Corporation will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The firm 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 dividend of $0.685 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, December 15th. Chesapeake Utilities’s dividend payout ratio is currently 48.50%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CPK. Barclays set a $141.00 target price on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Wall Street Zen raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Monday. Finally, BTIG Research assumed coverage on Chesapeake Utilities in a report on Tuesday, October 21st. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.00.

Hedge Funds Weigh In On Chesapeake Utilities

A number of large investors have recently added to or reduced their stakes in CPK. CIBC Private Wealth Group LLC raised its holdings in shares of Chesapeake Utilities by 66.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 109 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Chesapeake Utilities in the third quarter valued at approximately $329,000. Hancock Whitney Corp purchased a new stake in Chesapeake Utilities during the 3rd quarter worth approximately $207,000. CANADA LIFE ASSURANCE Co boosted its position in Chesapeake Utilities by 6.1% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 36,841 shares of the utilities provider’s stock valued at $4,977,000 after buying an additional 2,115 shares during the period. Finally, Mariner LLC grew its holdings in Chesapeake Utilities by 71.9% during the 3rd quarter. Mariner LLC now owns 7,074 shares of the utilities provider’s stock worth $953,000 after acquiring an additional 2,958 shares in the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

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.