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

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

Wall Street Analyst Weigh In

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

Chesapeake Utilities Stock Performance

The company has a market capitalization of $2.94 billion, a PE ratio of 26.48 and a beta of 0.61. The stock’s 50-day simple moving average is $122.03 and its 200 day simple moving average is $115.73. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38.

Chesapeake Utilities Announces Dividend

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

Institutional Investors Weigh In On Chesapeake Utilities

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Chesapeake Utilities by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider’s stock worth $199,471,000 after buying an additional 118,878 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of Chesapeake Utilities by 76.1% during the 2nd quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider’s stock worth $29,142,000 after buying an additional 118,561 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Chesapeake Utilities by 61.5% in the first quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider’s stock valued at $29,529,000 after acquiring an additional 104,850 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Chesapeake Utilities by 170.5% in the 2nd quarter. Victory Capital Management Inc. now owns 124,716 shares of the utilities provider’s stock worth $13,245,000 after purchasing an additional 78,613 shares during the period. Finally, Energy Income Partners LLC lifted its position in Chesapeake Utilities by 166.9% during the first quarter. Energy Income Partners LLC now owns 92,792 shares of the utilities provider’s stock valued at $9,957,000 after buying an additional 58,019 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.