Louisiana State Employees Retirement System Makes New Investment in Chesapeake Utilities Corporation $CPK

Louisiana State Employees Retirement System bought a new stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) during the 1st quarter, HoldingsChannel.com reports. The firm bought 10,500 shares of the utilities provider’s stock, valued at approximately $1,327,000.

Several other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Chesapeake Utilities by 94.7% in the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of 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. Entrust Financial LLC purchased a new position in shares of Chesapeake Utilities during the fourth quarter valued at $37,000. CIBC Private Wealth Group LLC grew its holdings in shares of Chesapeake Utilities by 66.1% during the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock valued at $37,000 after buying an additional 109 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Chesapeake Utilities by 133.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 487 shares of the utilities provider’s stock valued at $61,000 after buying an additional 278 shares during the period. 83.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CPK shares. Wall Street Zen raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings cut Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Wells Fargo & Company began coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 target price on the stock. Finally, Barclays set a $142.00 target price on Chesapeake Utilities and gave the company an “equal weight” rating in a report on Monday, April 20th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $137.00.

Chesapeake Utilities Trading Up 0.1%

Shares of NYSE:CPK opened at $125.14 on Friday. The firm has a fifty day moving average of $124.40 and a two-hundred day moving average of $126.97. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.80. Chesapeake Utilities Corporation has a 12-month low of $118.83 and a 12-month high of $140.59. The firm has a market capitalization of $3.00 billion, a P/E ratio of 20.05 and a beta of 0.69.

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

Chesapeake Utilities Increases Dividend

The company 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 $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.3%. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. The ex-dividend date is Monday, June 15th. Chesapeake Utilities’s dividend payout ratio is presently 47.12%.

Insider Activity

In other Chesapeake Utilities news, SVP Kevin J. Webber sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $127.37, for a total value of $254,740.00. Following the transaction, the senior vice president directly owned 12,652 shares of the company’s stock, valued at $1,611,485.24. This represents a 13.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffry M. Householder sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $126.12, for a total value of $1,261,200.00. Following the sale, the chief executive officer directly owned 63,001 shares of the company’s stock, valued at $7,945,686.12. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.36% of the company’s stock.

About Chesapeake Utilities

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.