Shares of Chesapeake Utilities Corp. (NYSE:CPK) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $67.50 and last traded at $66.10, with a volume of 57,849 shares. The stock had previously closed at $66.35.

CPK has been the subject of a number of recent analyst reports. US Capital Advisors downgraded Chesapeake Utilities Corp. from an “overweight” rating to a “hold” rating in a research report on Thursday, March 10th. Zacks Investment Research downgraded Chesapeake Utilities Corp. from a “hold” rating to a “sell” rating in a research report on Friday, April 22nd. Janney Montgomery Scott reissued a “neutral” rating and set a $59.00 price objective (up from $56.00) on shares of Chesapeake Utilities Corp. in a research report on Tuesday, May 10th. BB&T Corp. initiated coverage on Chesapeake Utilities Corp. in a research report on Wednesday, June 22nd. They set a “hold” rating for the company. Finally, Hilliard Lyons raised Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Friday, June 24th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $63.00.

The stock has a market capitalization of $990.27 million and a P/E ratio of 24.48. The firm’s 50-day moving average is $60.38 and its 200-day moving average is $60.46.

Chesapeake Utilities Corp. (NYSE:CPK) last posted its earnings results on Wednesday, May 4th. The company reported $1.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by $0.17. During the same quarter last year, the business earned $1.44 earnings per share. The business earned $146.30 million during the quarter, compared to the consensus estimate of $183.20 million. The business’s revenue was down 14.0% compared to the same quarter last year. On average, analysts anticipate that Chesapeake Utilities Corp. will post $2.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th were issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 1.89%. This is an increase from Chesapeake Utilities Corp.’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, June 13th.

In other Chesapeake Utilities Corp. news, insider John R. Schimkaitis sold 500 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $63.03, for a total value of $31,515.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several hedge funds recently modified their holdings of CPK. WBI Investments Inc. bought a new stake in shares of Chesapeake Utilities Corp. during the fourth quarter valued at about $1,580,000. California State Teachers Retirement System increased its stake in shares of Chesapeake Utilities Corp. by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 28,208 shares of the company’s stock valued at $1,601,000 after buying an additional 400 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in shares of Chesapeake Utilities Corp. during the fourth quarter valued at about $2,496,000. California Public Employees Retirement System increased its stake in shares of Chesapeake Utilities Corp. by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 48,902 shares of the company’s stock valued at $2,775,000 after buying an additional 1,600 shares in the last quarter. Finally, Monarch Partners Asset Management LLC increased its stake in shares of Chesapeake Utilities Corp. by 113.3% in the fourth quarter. Monarch Partners Asset Management LLC now owns 95,656 shares of the company’s stock valued at $5,428,000 after buying an additional 50,806 shares in the last quarter.

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company, through its operating divisions and subsidiaries, is engaged in regulated and unregulated energy businesses. It provides natural gas distribution and transmission, natural gas supply, gathering and processing, electric distribution and propane distribution service.

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