Inceptionr LLC Takes Position in Chesapeake Utilities Corporation $CPK

Inceptionr LLC purchased a new stake in Chesapeake Utilities Corporation (NYSE:CPK) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,608 shares of the utilities provider’s stock, valued at approximately $582,000.

Several other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Chesapeake Utilities by 292.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 164 shares during the period. Entrust Financial LLC purchased a new position in shares of Chesapeake Utilities during the 4th quarter worth $37,000. CIBC Private Wealth Group LLC boosted 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 acquiring an additional 109 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Chesapeake Utilities by 133.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 487 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Kevin J. Webber sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the transaction, the senior vice president directly owned 12,652 shares of the company’s stock, valued at approximately $1,611,485.24. The trade was a 13.65% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $126.12, for a total transaction of $1,261,200.00. Following the completion of the transaction, the chief executive officer directly owned 63,001 shares of the company’s stock, valued at approximately $7,945,686.12. The trade was a 13.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CPK has been the subject of a number of recent analyst reports. Barclays set a $142.00 price objective on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company started coverage on shares of Chesapeake Utilities in a research report on Tuesday, May 12th. They issued an “equal weight” rating and a $132.00 target price on the stock. Finally, Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $137.00.

Chesapeake Utilities Price Performance

Shares of CPK opened at $135.74 on Friday. 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 Corporation has a 1-year low of $118.83 and a 1-year high of $140.59. The stock has a market cap of $3.26 billion, a PE ratio of 21.75 and a beta of 0.69. The firm has a fifty day moving average price of $125.67 and a 200 day moving average price of $127.47.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.09. The firm had revenue of $353.10 million during the quarter, compared to the consensus estimate of $339.86 million. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the company earned $2.22 earnings per share. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. As a group, sell-side analysts anticipate that Chesapeake Utilities Corporation will post 6.46 EPS for the current year.

Chesapeake Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a dividend of $0.735 per share. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 15th. Chesapeake Utilities’s payout ratio is 47.12%.

Chesapeake Utilities 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.