Insider Selling: Chesapeake Utilities Co. (NYSE:CPK) SVP Sells $69,660.00 in Stock

Posted by on Mar 20th, 2023

Chesapeake Utilities Co. (NYSE:CPK – Get Rating) SVP Kevin J. Webber sold 540 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $129.00, for a total transaction of $69,660.00. Following the sale, the senior vice president now directly owns 7,453 shares in the company, valued at $961,437. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Chesapeake Utilities Price Performance

CPK opened at $128.43 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.45 and a current ratio of 0.53. The stock has a market capitalization of $2.28 billion, a P/E ratio of 25.43 and a beta of 0.59. The company’s 50-day simple moving average is $124.28 and its two-hundred day simple moving average is $121.20. Chesapeake Utilities Co. has a 52-week low of $105.79 and a 52-week high of $142.39.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 1.67%. The ex-dividend date is Tuesday, March 14th. Chesapeake Utilities’s dividend payout ratio is currently 42.38%.

Hedge Funds Weigh In On Chesapeake Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of CPK. Point72 Middle East FZE bought a new position in Chesapeake Utilities during the 4th quarter valued at about $48,000. Wipfli Financial Advisors LLC bought a new position in shares of Chesapeake Utilities in the 3rd quarter worth approximately $88,000. Assetmark Inc. lifted its stake in shares of Chesapeake Utilities by 32.7% in the 3rd quarter. Assetmark Inc. now owns 796 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 196 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Chesapeake Utilities in the 2nd quarter worth approximately $142,000. Finally, Heritage Wealth Management LLC bought a new position in shares of Chesapeake Utilities in the 2nd quarter worth approximately $173,000. Institutional investors own 74.23% of the company’s stock.

Analyst Upgrades and Downgrades

CPK has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of Chesapeake Utilities from $131.00 to $133.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 14th. Guggenheim increased their price objective on shares of Chesapeake Utilities from $112.00 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, March 8th. Wells Fargo & Company increased their price objective on shares of Chesapeake Utilities from $110.00 to $115.00 in a research report on Wednesday, December 14th. Finally, StockNews.com initiated coverage on shares of Chesapeake Utilities in a research report on Thursday. They set a “hold” rating on the stock.

Chesapeake Utilities Company Profile

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Chesapeake Utilities Corp. engages in the distribution and transmission of natural gas, propane and electricity, and the generation of electricity and steam. It operates through the following segments: Regulated Energy and Unregulated Energy. The Regulated Energy segment distributes and transmits gas, natural gas, and electricity.

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