Chesapeake Utilities (NYSE:CPK) Reaches New 12-Month High – Should You Buy?

Chesapeake Utilities Corporation (NYSE:CPK)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $140.83 and last traded at $139.83, with a volume of 21788 shares changing hands. The stock had previously closed at $135.61.

Analyst Upgrades and Downgrades

CPK has been the topic of a number of research reports. Weiss Ratings raised shares of Chesapeake Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Barclays set a $142.00 price target on shares of Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Finally, Wells Fargo & Company initiated coverage on shares of Chesapeake Utilities in a research note on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price target for the company. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Chesapeake Utilities presently has an average rating of “Hold” and a consensus price target of $137.00.

Chesapeake Utilities Trading Down 0.7%

The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.80. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 21.95 and a beta of 0.69. The business’s fifty day moving average is $126.25 and its two-hundred day moving average is $127.81.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.09. The firm had revenue of $353.10 million for the quarter, compared to the consensus estimate of $339.86 million. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.22 EPS. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. Equities analysts anticipate that Chesapeake Utilities Corporation will post 6.46 earnings per share for the current fiscal year.

Chesapeake Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were given a $0.735 dividend. The ex-dividend date was Monday, June 15th. This is a positive change from Chesapeake Utilities’s previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a yield of 2.1%. Chesapeake Utilities’s dividend payout ratio is 47.12%.

Insider Activity

In other Chesapeake Utilities news, CEO Jeffry M. Householder sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $126.12, for a total transaction of $1,261,200.00. Following the completion of the sale, the chief executive officer directly owned 63,001 shares of the company’s stock, valued at approximately $7,945,686.12. The trade was a 13.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin J. Webber sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total transaction of $254,740.00. Following the transaction, the senior vice president owned 12,652 shares in the company, valued at approximately $1,611,485.24. The trade was a 13.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CPK. Byrne Asset Management LLC grew its stake in shares of Chesapeake Utilities by 11.4% during the second quarter. Byrne Asset Management LLC now owns 1,176 shares of the utilities provider’s stock worth $144,000 after purchasing an additional 120 shares during the period. Versant Capital Management Inc boosted its holdings in Chesapeake Utilities by 38.8% during the second quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider’s stock worth $37,000 after buying an additional 85 shares during the last quarter. Empowered Funds LLC boosted its holdings in Chesapeake Utilities by 19.0% during the first quarter. Empowered Funds LLC now owns 5,183 shares of the utilities provider’s stock worth $655,000 after buying an additional 826 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of Chesapeake Utilities by 14.0% during the 1st quarter. Glenmede Trust Co. NA now owns 14,272 shares of the utilities provider’s stock worth $1,804,000 after buying an additional 1,758 shares during the period. Finally, Argent Capital Management LLC grew its position in shares of Chesapeake Utilities by 54.5% during the 1st quarter. Argent Capital Management LLC now owns 9,664 shares of the utilities provider’s stock worth $1,221,000 after buying an additional 3,408 shares during the period. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.