Chesapeake Utilities (NYSE:CPK) Reaches New 1-Year High – Should You Buy?

Chesapeake Utilities Corporation (NYSE:CPK)’s stock price hit a new 52-week high during trading on Wednesday. The company traded as high as $141.11 and last traded at $141.2150, with a volume of 27,431 shares. The stock had previously closed at $138.05.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPK. Wall Street Zen downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings upgraded shares of Chesapeake Utilities from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. Huntington assumed coverage on Chesapeake Utilities in a research note on Monday, September 14th. They issued an “outperform” rating and a $150.00 target price on the stock. Mizuho set a $150.00 price target on Chesapeake Utilities and gave the company an “outperform” rating in a research report on Friday, September 11th. Finally, Barclays set a $134.00 price target on Chesapeake Utilities and gave the company an “equal weight” rating in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Chesapeake Utilities Trading Down 1.1%

The stock has a market capitalization of $3.38 billion, a P/E ratio of 22.37 and a beta of 0.62. The stock’s fifty day moving average price is $131.45 and its two-hundred day moving average price is $129.52. The company has a current ratio of 0.32, a quick ratio of 0.28 and a debt-to-equity ratio of 0.79.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings results on Thursday, November 5th. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.04). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $193.31 million. During the same period in the prior year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities research analysts forecast that Chesapeake Utilities Corporation will post 6.40 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.7350 per share. The ex-dividend date is Tuesday, December 15th. This represents a $2.94 annualized dividend and a yield of 2.1%. Chesapeake Utilities’s dividend payout ratio is currently 46.89%.

Hedge Funds Weigh In On Chesapeake Utilities

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Chesapeake Utilities during the 2nd quarter valued at about $459,185,000. Wellington Management Group LLP raised its holdings in Chesapeake Utilities by 4.4% in the second quarter. Wellington Management Group LLP now owns 939,774 shares of the utilities provider’s stock worth $115,104,000 after buying an additional 39,754 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Chesapeake Utilities in the second quarter worth about $25,935,000. Energy Income Partners LLC bought a new position in shares of Chesapeake Utilities in the second quarter worth approximately $25,080,000. Finally, Jupiter Topco LLC bought a new position in shares of Chesapeake Utilities in the second quarter worth approximately $19,744,000. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation is an energy delivery company that provides natural gas, propane, electricity and related services to residential, commercial, industrial and institutional customers. Its operations include regulated utility businesses as well as unregulated energy and infrastructure activities.

The company distributes natural gas and electricity, transports natural gas through pipeline systems, and supplies propane and other fuels. It also develops and operates energy infrastructure and provides renewable natural gas and other energy solutions through its portfolio of operating subsidiaries.

Founded in 1859, Chesapeake Utilities serves customers primarily in Delaware, Maryland, Pennsylvania, Virginia, Florida and Ohio.