Chesapeake Utilities (NYSE:CPK) Sets New 1-Year High – Here’s Why

Shares of Chesapeake Utilities Co. (NYSE:CPK) reached a new 52-week high on Wednesday . The company traded as high as $126.26 and last traded at $125.24, with a volume of 27967 shares. The stock had previously closed at $119.87.

Wall Street Analysts Forecast Growth

Separately, Barclays increased their price objective on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th.

Chesapeake Utilities Stock Performance

The firm’s 50 day moving average price is $120.50 and its 200-day moving average price is $114.35. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 25.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32.

Chesapeake Utilities (NYSE:CPK) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). Chesapeake Utilities had a net margin of 13.61% and a return on equity of 9.51%. The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. During the same quarter in the prior year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.56 annualized dividend and a yield of 2.05%. Chesapeake Utilities’s dividend payout ratio is currently 54.70%.

Insiders Place Their Bets

In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $113.56, for a total value of $1,094,037.04. Following the completion of the sale, the director now directly owns 8,363 shares of the company’s stock, valued at $949,702.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.66% of the company’s stock.

Hedge Funds Weigh In On Chesapeake Utilities

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Chesapeake Utilities by 180.1% during the 2nd quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 407 shares during the last quarter. Assetmark Inc. raised its stake in shares of Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 102 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 115 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Chesapeake Utilities during the 3rd quarter worth approximately $99,000. Finally, Spirit of America Management Corp NY raised its stake in shares of Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

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.