BlackRock Inc. purchased a new position in shares of Chesapeake Utilities Corporation (NYSE:CPK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,749,062 shares of the utilities provider's stock, valued at approximately $459,185,000. BlackRock Inc. owned about 15.62% of Chesapeake Utilities as of its most recent SEC filing.

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Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in Chesapeake Utilities by 292.9% in 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. EverSource Wealth Advisors LLC raised 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 buying an additional 108 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Chesapeake Utilities by 66.1% in 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 during the last quarter. Entrust Financial LLC acquired a new position in Chesapeake Utilities during the 4th quarter worth about $37,000. Finally, Versant Capital Management Inc grew its holdings in Chesapeake Utilities by 38.8% during the 2nd quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider's stock worth $37,000 after acquiring an additional 85 shares during the last quarter. 83.11% of the stock is owned by institutional investors.

Chesapeake Utilities Stock Performance

Chesapeake Utilities stock opened at $135.40 on Tuesday. The company has a market cap of $3.26 billion, a PE ratio of 21.59 and a beta of 0.68. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 0.79. Chesapeake Utilities Corporation has a 1 year low of $118.88 and a 1 year high of $140.83. The company's 50-day moving average is $130.14 and its two-hundred day moving average is $128.91.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.02). The business had revenue of $201.90 million during the quarter, compared to the consensus estimate of $198.91 million. Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. Chesapeake Utilities's revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 earnings per share. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. Equities analysts anticipate that Chesapeake Utilities Corporation will post 6.42 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, September 14th. This represents a $2.94 dividend on an annualized basis and a yield of 2.2%. Chesapeake Utilities's dividend payout ratio (DPR) is 46.89%.

Analyst Ratings Changes

A number of brokerages have weighed in on CPK. Wells Fargo & Company boosted their target price on shares of Chesapeake Utilities from $132.00 to $134.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Wall Street Zen cut shares of Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded Chesapeake Utilities from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $138.00.

Get Our Latest Analysis on Chesapeake Utilities

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.

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