4,698 Shares in Chesapeake Utilities Corporation (NYSE:CPK) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in shares of Chesapeake Utilities Corporation (NYSE:CPK) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,698 shares of the utilities provider’s stock, valued at approximately $603,000.

Several other large investors also recently added to or reduced their stakes in the stock. Spire Wealth Management bought a new position in Chesapeake Utilities in the first quarter worth approximately $26,000. Federated Hermes Inc. lifted its holdings in shares of Chesapeake Utilities by 587.1% in the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after buying an additional 182 shares during the period. NBC Securities Inc. bought a new position in shares of Chesapeake Utilities during the 1st quarter worth $30,000. Byrne Asset Management LLC increased its stake in shares of Chesapeake Utilities by 114.3% during the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider’s stock valued at $35,000 after buying an additional 144 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Chesapeake Utilities by 50.7% during the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock valued at $41,000 after buying an additional 106 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CPK shares. Wall Street Zen downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Barclays lowered their target price on Chesapeake Utilities from $125.00 to $124.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Finally, LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a report on Friday, May 9th.

Chesapeake Utilities Stock Down 1.8%

CPK stock opened at $121.48 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.46 and a quick ratio of 0.40. The firm’s fifty day simple moving average is $121.97 and its 200-day simple moving average is $124.63. Chesapeake Utilities Corporation has a 12 month low of $111.00 and a 12 month high of $136.73. The company has a market capitalization of $2.83 billion, a P/E ratio of 22.45 and a beta of 0.65.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.06). Chesapeake Utilities had a return on equity of 9.19% and a net margin of 14.69%. The company had revenue of $298.70 million during the quarter, compared to analysts’ expectations of $248.45 million. During the same quarter in the prior year, the company posted $2.10 EPS. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, equities research analysts forecast that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were given a dividend of $0.685 per share. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Chesapeake Utilities’s previous quarterly dividend of $0.64. This represents a $2.74 dividend on an annualized basis and a yield of 2.26%. Chesapeake Utilities’s dividend payout ratio is currently 50.65%.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.