Chesapeake Utilities (NYSE:CPK) Reaches New 1-Year High – What’s Next?

Chesapeake Utilities Co. (NYSE:CPK) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $128.99 and last traded at $128.47, with a volume of 9971 shares traded. The stock had previously closed at $126.97.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CPK shares. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Barclays upped their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th.

Chesapeake Utilities Stock Performance

The company has a market cap of $2.94 billion, a PE ratio of 26.48 and a beta of 0.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32. The business has a 50-day moving average of $122.03 and a 200 day moving average of $115.73.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be paid a $0.64 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 1.98%. Chesapeake Utilities’s dividend payout ratio (DPR) is 51.93%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Chesapeake Utilities by 1.6% during the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock valued at $64,157,000 after acquiring an additional 8,358 shares in the last quarter. Barclays PLC increased its holdings in Chesapeake Utilities by 342.4% during the third quarter. Barclays PLC now owns 37,048 shares of the utilities provider’s stock valued at $4,600,000 after buying an additional 28,673 shares during the period. XTX Topco Ltd purchased a new position in shares of Chesapeake Utilities in the 3rd quarter valued at $390,000. Jane Street Group LLC raised its position in shares of Chesapeake Utilities by 11.6% in the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock worth $5,095,000 after acquiring an additional 4,262 shares in the last quarter. Finally, State Street Corp grew its stake in Chesapeake Utilities by 0.9% in the third quarter. State Street Corp now owns 1,222,149 shares of the utilities provider’s stock valued at $152,513,000 after purchasing an additional 11,068 shares during the last quarter. Institutional investors 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.