Moody Aldrich Partners LLC Cuts Position in Chesapeake Utilities Corporation $CPK

by · The Markets Daily

Moody Aldrich Partners LLC lessened its holdings in Chesapeake Utilities Corporation (NYSE:CPK – Free Report) by 16.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,740 shares of the utilities provider’s stock after selling 7,078 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.15% of Chesapeake Utilities worth $4,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Elevation Point Wealth Partners LLC acquired a new position in Chesapeake Utilities during the second quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its holdings 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 acquiring an additional 164 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of Chesapeake Utilities by 1,909.1% in the second quarter. JFS Wealth Advisors LLC now owns 221 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 210 shares during the period. EverSource Wealth Advisors LLC boosted its holdings 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 in the last quarter. Finally, CWM LLC grew its holdings in shares of Chesapeake Utilities by 17.3% in the 3rd quarter. CWM LLC now owns 1,058 shares of the utilities provider’s stock worth $143,000 after acquiring an additional 156 shares during the period. Institutional investors and hedge funds own 83.11% of the company’s stock.

Insider Transactions at Chesapeake Utilities

In other news, COO Jeffery S. Sylvester sold 1,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $137.08, for a total value of $137,080.00. Following the completion of the transaction, the chief operating officer owned 11,916 shares of the company’s stock, valued at $1,633,445.28. The trade was a 7.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffry M. Householder sold 1,908 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $125.83, for a total transaction of $240,083.64. Following the sale, the chief executive officer owned 51,916 shares in the company, valued at $6,532,590.28. This trade represents a 3.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 18,500 shares of company stock worth $2,355,265. Insiders own 2.68% of the company’s stock.

Chesapeake Utilities Stock Down 0.5%

CPK stock opened at $124.65 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.95. Chesapeake Utilities Corporation has a 12-month low of $115.12 and a 12-month high of $140.59. The company has a 50 day moving average of $130.99 and a two-hundred day moving average of $127.56. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 22.06 and a beta of 0.79.

Chesapeake Utilities (NYSE:CPK – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.08). Chesapeake Utilities had a net margin of 14.77% and a return on equity of 9.03%. The company had revenue of $179.60 million during the quarter, compared to the consensus estimate of $167.30 million. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Chesapeake Utilities has set its FY 2025 guidance at 6.150-6.350 EPS. On average, equities analysts anticipate that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

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

Wall Street Analyst Weigh In

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

View Our Latest Research Report 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.

Further Reading

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