Insider Selling: Chesapeake Utilities (NYSE:CPK) CEO Sells $240,083.64 in Stock

Chesapeake Utilities Corporation (NYSE:CPK) CEO Jeffry Householder sold 1,908 shares of the stock in a transaction on Friday, December 26th. The stock was sold at an average price of $125.83, for a total value of $240,083.64. Following the completion of the sale, the chief executive officer directly owned 51,916 shares in the company, valued at approximately $6,532,590.28. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Chesapeake Utilities Stock Up 0.2%

Shares of NYSE:CPK traded up $0.27 on Monday, hitting $126.19. 131,560 shares of the company traded hands, compared to its average volume of 122,792. The stock has a 50 day simple moving average of $131.43 and a 200-day simple moving average of $127.50. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. The company has a market cap of $2.98 billion, a PE ratio of 22.33 and a beta of 0.79. Chesapeake Utilities Corporation has a 52 week low of $115.12 and a 52 week high of $140.59.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. As a group, research analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 15th will be given a $0.685 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.74 annualized dividend and a yield of 2.2%. Chesapeake Utilities’s dividend payout ratio is 48.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Chesapeake Utilities in a report on Monday, December 22nd. Barclays set a $141.00 target price on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Finally, BTIG Research began coverage on shares of Chesapeake Utilities in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Chesapeake Utilities has a consensus rating of “Moderate Buy” and an average price target of $141.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position 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 valued at $37,000 after purchasing an additional 109 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Chesapeake Utilities in the third quarter worth approximately $329,000. Hancock Whitney Corp bought a new stake in Chesapeake Utilities during the third quarter valued at approximately $207,000. CANADA LIFE ASSURANCE Co raised its position in Chesapeake Utilities by 6.1% in the third quarter. CANADA LIFE ASSURANCE Co now owns 36,841 shares of the utilities provider’s stock worth $4,977,000 after acquiring an additional 2,115 shares during the period. Finally, Mariner LLC raised its position in Chesapeake Utilities by 71.9% in the third quarter. Mariner LLC now owns 7,074 shares of the utilities provider’s stock worth $953,000 after acquiring an additional 2,958 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Company Profile

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.