Chesapeake Utilities Corp. (CPK) Hits New 52-Week High at $67.88
Chesapeake Utilities Corp. (NYSE:CPK) reached a new 52-week high during trading on Thursday . The stock traded as high as $67.88 and last traded at $65.18, with a volume of 59,807 shares trading hands. The stock had previously closed at $64.33.
Several research firms have commented on CPK. Zacks Investment Research cut Chesapeake Utilities Corp. from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd. BB&T Corp. began coverage on Chesapeake Utilities Corp. in a research note on Wednesday, June 22nd. They issued a “hold” rating on the stock. Janney Montgomery Scott restated a “neutral” rating and issued a $59.00 target price (up previously from $56.00) on shares of Chesapeake Utilities Corp. in a research note on Tuesday, May 10th. Finally, Hilliard Lyons upgraded Chesapeake Utilities Corp. from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Friday, June 24th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $72.00.
The company has a market cap of $988.33 million and a PE ratio of 23.45. The firm has a 50-day moving average of $65.13 and a 200-day moving average of $62.02.
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, beating the consensus estimate of $0.49 by $0.03. The company earned $102.30 million during the quarter, compared to analyst estimates of $98.90 million. Chesapeake Utilities Corp.’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities research analysts forecast that Chesapeake Utilities Corp. will post $2.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.22 annualized dividend and a dividend yield of 1.89%.
In other news, insider John R. Schimkaitis sold 500 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A hedge fund recently raised its stake 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 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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