Chesapeake Utilities (NYSE:CPK) Hits New 12-Month High – What’s Next?

Shares of Chesapeake Utilities Co. (NYSE:CPK) hit a new 52-week high during trading on Monday . The stock traded as high as $134.93 and last traded at $134.93, with a volume of 89966 shares. The stock had previously closed at $131.11.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. LADENBURG THALM/SH SH raised shares of Chesapeake Utilities to a “strong-buy” rating in a report on Thursday, April 3rd. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $122.67.

Chesapeake Utilities Stock Performance

The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 27.09 and a beta of 0.66. The stock’s 50-day simple moving average is $126.59 and its 200 day simple moving average is $124.41.

Chesapeake Utilities (NYSE:CPK) last posted its earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The firm had revenue of $215.00 million during the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same quarter last year, the firm posted $1.64 EPS. Analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a $0.64 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 1.90%. Chesapeake Utilities’s payout ratio is 48.58%.

Hedge Funds Weigh In On Chesapeake Utilities

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Chesapeake Utilities by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,934,574 shares of the utilities provider’s stock valued at $234,761,000 after buying an additional 44,692 shares during the period. Geode Capital Management LLC raised its position 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 worth $64,157,000 after purchasing an additional 8,358 shares during the period. Jennison Associates LLC lifted its holdings in shares of Chesapeake Utilities by 2.7% during the 4th quarter. Jennison Associates LLC now owns 495,178 shares of the utilities provider’s stock valued at $60,090,000 after purchasing an additional 12,889 shares in the last quarter. Invesco Ltd. raised its holdings in Chesapeake Utilities by 3.0% during the 4th quarter. Invesco Ltd. now owns 464,679 shares of the utilities provider’s stock worth $56,389,000 after buying an additional 13,742 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Chesapeake Utilities by 10.3% in the fourth quarter. JPMorgan Chase & Co. now owns 317,752 shares of the utilities provider’s stock valued at $38,559,000 after buying an additional 29,759 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

About Chesapeake Utilities

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.