Chesapeake Utilities (NYSE:CPK) Trading 2.1% Higher – Still a Buy?

Chesapeake Utilities Co. (NYSE:CPK)’s share price shot up 2.1% during mid-day trading on Friday . The stock traded as high as $128.44 and last traded at $128.27. 25,076 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 96,009 shares. The stock had previously closed at $125.62.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

Chesapeake Utilities Stock Performance

The company has a 50-day moving average of $124.84 and a 200-day moving average of $123.76. The firm has a market capitalization of $2.95 billion, a P/E ratio of 26.01 and a beta of 0.60. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings data 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 company had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter last year, the business earned $1.64 earnings per share. On average, equities analysts anticipate that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.58%.

Institutional Trading of Chesapeake Utilities

A number of institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. raised its position in shares of Chesapeake Utilities by 587.1% in the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 182 shares in the last quarter. Versant Capital Management Inc lifted its stake in Chesapeake Utilities by 2,018.2% in the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after buying an additional 222 shares during the period. Quantbot Technologies LP bought a new position in shares of Chesapeake Utilities during the 4th quarter worth approximately $50,000. Sterling Capital Management LLC boosted its holdings in shares of Chesapeake Utilities by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider’s stock worth $85,000 after buying an additional 620 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Chesapeake Utilities by 159.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock worth $106,000 after buying an additional 539 shares during the period. 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.