Chesapeake Utilities Corp. (CPK) Shares Down 2.9%
Chesapeake Utilities Corp. (NYSE:CPK) shares traded down 2.9% during mid-day trading on Friday . The stock traded as low as $63.91 and last traded at $64.15, with a volume of 72,782 shares. The stock had previously closed at $66.06.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Chesapeake Utilities Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Hilliard Lyons upgraded 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. Janney Montgomery Scott upgraded Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $71.00 in a research note on Monday, August 8th. Finally, BB&T Corp. assumed coverage on Chesapeake Utilities Corp. in a research note on Wednesday, June 22nd. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Chesapeake Utilities Corp. has an average rating of “Hold” and an average target price of $72.00.
The firm’s 50-day moving average is $65.13 and its 200 day moving average is $62.02. The company has a market capitalization of $988.33 million and a P/E ratio of 23.45.
Chesapeake Utilities Corp. (NYSE:CPK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The company had revenue of $102.30 million for 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, equities analysts predict that Chesapeake Utilities Corp. will post $2.90 EPS for the current year.
The business 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 dividend of $0.305 per share. The ex-dividend date is Tuesday, September 13th. This represents a $1.22 annualized dividend and a yield of 1.89%.
In other Chesapeake Utilities Corp. news, insider John R. Schimkaitis sold 500 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $63.03, for a total transaction of $31,515.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
An institutional investor recently raised its position in Chesapeake Utilities Corp. stock. California Public Employees Retirement System raised its stake in Chesapeake Utilities Corp. (NYSE:CPK) by 3.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 approximately 0.32% of Chesapeake Utilities Corp. worth $2,775,000 as of its most recent filing with the SEC.
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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