Chesapeake Utilities Corp. (CPK) Sets New 52-Week High at $67.88
Chesapeake Utilities Corp. (NYSE:CPK)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $67.88 and last traded at $65.18, with a volume of 59,807 shares. The stock had previously closed at $64.33.
CPK has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Chesapeake Utilities Corp. from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd. Janney Montgomery Scott reaffirmed a “neutral” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Chesapeake Utilities Corp. in a research note on Tuesday, May 10th. BB&T Corp. initiated coverage on shares of Chesapeake Utilities Corp. in a research note on Wednesday, June 22nd. They issued a “hold” rating for the company. Finally, Hilliard Lyons raised 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 research note on Friday, June 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $72.00.
The company has a market capitalization of $1.01 billion and a P/E ratio of 23.89. The stock has a 50 day moving average price of $65.11 and a 200-day moving average price of $61.97.
Chesapeake Utilities Corp. (NYSE:CPK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.03. The company had revenue of $102.30 million for the quarter, compared to analyst estimates of $98.90 million. The company’s revenue was up 10.4% compared to the same quarter last year. Analysts expect that Chesapeake Utilities Corp. will post $2.90 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Thursday, September 15th will be paid a dividend of $0.305 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.90%.
In related news, insider John R. Schimkaitis sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $63.03, for a total transaction of $31,515.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A hedge fund recently raised its stake in Chesapeake Utilities Corp. stock. California Public Employees Retirement System increased its position in shares of Chesapeake Utilities Corp. (NYSE:CPK) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,902 shares of the company’s stock after buying an additional 1,600 shares during the period. California Public Employees Retirement System owned 0.32% of Chesapeake Utilities Corp. worth $2,775,000 as of its most recent SEC filing.
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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