Chesapeake Utilities (NYSE:CPK) Hits New 1-Year High on Analyst Upgrade

Shares of Chesapeake Utilities Co. (NYSE:CPK) reached a new 52-week high on Monday after Guggenheim raised their price target on the stock from $118.00 to $129.00. Guggenheim currently has a neutral rating on the stock. Chesapeake Utilities traded as high as $133.00 and last traded at $133.00, with a volume of 5179 shares. The stock had previously closed at $132.32.

A number of other equities analysts have also weighed in on the stock. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Barclays increased their price target on shares of Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $123.00.

Hedge Funds Weigh In On Chesapeake Utilities

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock valued at $67,000 after buying an additional 407 shares during the period. Assetmark Inc. boosted its holdings in Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after acquiring an additional 102 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Chesapeake Utilities by 17.7% during the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 115 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Chesapeake Utilities during the third quarter valued at $99,000. Finally, Spirit of America Management Corp NY increased its position in Chesapeake Utilities by 81.8% during the second quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after acquiring an additional 450 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other institutional investors.

Chesapeake Utilities Stock Performance

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 $122.62 and a 200 day moving average of $116.15. The company has a market cap of $3.03 billion, a PE ratio of 26.84 and a beta of 0.61.

Chesapeake Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 1.92%. Chesapeake Utilities’s payout ratio is 51.93%.

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.