Chesapeake Utilities (NYSE:CPK) Shares Break Above Two Hundred Day Moving Average – Here’s Why

Chesapeake Utilities Corporation (NYSE:CPK) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $128.73 and traded as high as $131.01. Chesapeake Utilities shares last traded at $129.82, with a volume of 132,814 shares.

Analyst Ratings Changes

CPK has been the subject of several analyst reports. Wells Fargo & Company set a $136.00 target price on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Wednesday, September 30th. Weiss Ratings raised shares of Chesapeake Utilities from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Mizuho set a $150.00 price target on shares of Chesapeake Utilities and gave the stock an “outperform” rating in a research report on Friday, September 11th. Wall Street Zen lowered shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Barclays set a $134.00 price objective on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Chesapeake Utilities has an average rating of “Moderate Buy” and an average target price of $142.50.

Chesapeake Utilities Price Performance

The firm has a market cap of $3.24 billion, a P/E ratio of 21.42 and a beta of 0.65. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $131.08 and its two-hundred day moving average is $128.77.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Chesapeake Utilities had a net margin of 15.12% and a return on equity of 9.34%. The company had revenue of $201.90 million for the quarter, compared to analyst estimates of $198.91 million. During the same quarter in the previous year, the firm earned $1.04 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. As a group, analysts anticipate that Chesapeake Utilities Corporation will post 6.40 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 14th were issued a $0.7350 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $2.94 annualized dividend and a dividend yield of 2.2%. Chesapeake Utilities’s dividend payout ratio is presently 46.89%.

Institutional Investors Weigh In On Chesapeake Utilities

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Chesapeake Utilities during the second quarter valued at approximately $459,185,000. Wellington Management Group LLP raised its position in shares of Chesapeake Utilities by 4.4% in the 2nd quarter. Wellington Management Group LLP now owns 939,774 shares of the utilities provider’s stock worth $115,104,000 after acquiring an additional 39,754 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Chesapeake Utilities during the second quarter valued at $25,935,000. Energy Income Partners LLC purchased a new position in Chesapeake Utilities during the 2nd quarter valued at about $25,080,000. Finally, Jupiter Topco LLC bought a new stake in shares of Chesapeake Utilities in the 2nd quarter worth approximately $19,744,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.

About Chesapeake Utilities

Chesapeake Utilities Corporation is an energy delivery company that provides natural gas, propane, electricity and related services to residential, commercial, industrial and institutional customers. Its operations include regulated utility businesses as well as unregulated energy and infrastructure activities.

The company distributes natural gas and electricity, transports natural gas through pipeline systems, and supplies propane and other fuels. It also develops and operates energy infrastructure and provides renewable natural gas and other energy solutions through its portfolio of operating subsidiaries.

Founded in 1859, Chesapeake Utilities serves customers primarily in Delaware, Maryland, Pennsylvania, Virginia, Florida and Ohio.