Chesapeake Utilities (NYSE:CPK) Reaches New 52-Week High After Analyst Upgrade

Chesapeake Utilities Co. (NYSE:CPK - Get Free Report) reached a new 52-week high on Tuesday after LADENBURG THALM/SH SH upgraded the stock to a strong-buy rating. The company traded as high as $136.73 and last traded at $136.25, with a volume of 36190 shares traded. The stock had previously closed at $133.69.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Tuesday, April 22nd. Barclays raised their target price on shares of Chesapeake Utilities from $120.00 to $125.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $123.00.

Institutional Trading of Chesapeake Utilities

Large investors have recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new position in shares of Chesapeake Utilities in the first quarter valued at $26,000. Spirit of America Management Corp NY lifted its position in Chesapeake Utilities by 18.0% during the first quarter. Spirit of America Management Corp NY now owns 2,950 shares of the utilities provider's stock valued at $379,000 after purchasing an additional 450 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Chesapeake Utilities by 10.3% during the first quarter. Exchange Traded Concepts LLC now owns 59,921 shares of the utilities provider's stock valued at $7,696,000 after purchasing an additional 5,585 shares during the last quarter. Byrne Asset Management LLC grew its stake in shares of Chesapeake Utilities by 114.3% in the 1st quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after buying an additional 144 shares in the last quarter. Finally, Albert D Mason Inc. increased its holdings in shares of Chesapeake Utilities by 1.8% in the 1st quarter. Albert D Mason Inc. now owns 12,804 shares of the utilities provider's stock worth $1,644,000 after buying an additional 228 shares during the last quarter. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Price Performance

The stock has a market capitalization of $3.04 billion, a PE ratio of 26.83 and a beta of 0.66. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The firm's 50-day moving average price is $128.37 and its 200-day moving average price is $125.15.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.04). The company had revenue of $215.00 million during the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same period in the previous year, the business earned $1.64 earnings per share. On average, equities analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a $0.64 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.56 annualized dividend and a dividend yield of 1.94%. Chesapeake Utilities's dividend payout ratio (DPR) is presently 48.58%.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.