Chesapeake Utilities Corp. (CPK) Sees Unusually-High Trading Volume
Shares of Chesapeake Utilities Corp. (NYSE:CPK) saw strong trading volume on Monday . 61,122 shares were traded during trading, an increase of 19% from the previous session’s volume of 51,216 shares.The stock last traded at $65.55 and had previously closed at $64.62.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Chesapeake Utilities Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Janney Montgomery Scott upgraded shares of Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $71.00 in a report on Monday. Hilliard Lyons upgraded shares of Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Friday, June 24th. Finally, BB&T Corp. assumed coverage on shares of Chesapeake Utilities Corp. in a report on Wednesday, June 22nd. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.00.
The company’s 50-day moving average price is $64.17 and its 200-day moving average price is $61.77. The firm has a market cap of $1.01 billion and a price-to-earnings ratio of 24.02.
Chesapeake Utilities Corp. (NYSE:CPK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The business earned $102.30 million during the quarter, compared to analysts’ expectations of $98.90 million. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts expect that Chesapeake Utilities Corp. will post $2.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, September 13th.
In other Chesapeake Utilities Corp. news, insider John R. Schimkaitis sold 500 shares of Chesapeake Utilities Corp. stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Other hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted 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 worth $1,601,000 after buying an additional 400 shares during the last quarter. California Public Employees Retirement System raised its position in 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 during the period. Finally, WBI Investments Inc. bought a new position in Chesapeake Utilities Corp. during the fourth quarter valued at approximately $1,580,000.
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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