Chesapeake Utilities (CPK) Reaches New 12-Month High at $93.40

Chesapeake Utilities Co. (NYSE:CPK) reached a new 52-week high on Friday . The company traded as high as $93.40 and last traded at $93.10, with a volume of 716 shares trading hands. The stock had previously closed at $93.01.

CPK has been the subject of a number of analyst reports. Janney Montgomery Scott upgraded shares of Chesapeake Utilities from a “neutral” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Friday, November 2nd. They noted that the move was a valuation call. Maxim Group initiated coverage on shares of Chesapeake Utilities in a research report on Wednesday, November 28th. They issued a “buy” rating and a $100.00 price target for the company. Zacks Investment Research upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Finally, Wells Fargo & Co lifted their price target on shares of Chesapeake Utilities from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Monday, September 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Chesapeake Utilities presently has an average rating of “Buy” and a consensus target price of $91.25.

The company has a current ratio of 0.30, a quick ratio of 0.27 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 4.64 and a beta of 0.09.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.15). Chesapeake Utilities had a net margin of 9.31% and a return on equity of 10.25%. The firm had revenue of $140.28 million for the quarter, compared to analyst estimates of $142.85 million. On average, equities research analysts expect that Chesapeake Utilities Co. will post 3.35 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Friday, December 14th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, December 13th. This represents a $1.48 annualized dividend and a yield of 1.59%. Chesapeake Utilities’s dividend payout ratio is currently 51.21%.

Institutional investors and hedge funds have recently made changes to their positions in the business. United Services Automobile Association acquired a new position in Chesapeake Utilities during the second quarter valued at approximately $209,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Chesapeake Utilities during the third quarter worth $263,000. Engineers Gate Manager LP bought a new stake in shares of Chesapeake Utilities during the second quarter worth $324,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Chesapeake Utilities during the second quarter worth $392,000. Finally, WINTON GROUP Ltd grew its stake in shares of Chesapeake Utilities by 16.5% during the third quarter. WINTON GROUP Ltd now owns 4,857 shares of the utilities provider’s stock worth $408,000 after buying an additional 688 shares during the last quarter. Institutional investors and hedge funds own 64.66% of the company’s stock.

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Chesapeake Utilities Company Profile (NYSE:CPK)

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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