Chesapeake Utilities (NYSE:CPK) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Chesapeake Utilities shares rose above their 200-day moving average, reaching $131.01 before closing at $129.82, compared with the $128.73 average.
• Analyst sentiment is moderately positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $142.50, although some firms maintain neutral or bearish views.
• The company reported quarterly revenue of $201.9 million, up 4.7% year over year, but earnings of $1.05 per share narrowly missed estimates. Chesapeake also paid a $0.735 quarterly dividend, equivalent to a 2.3% yield.

Chesapeake Utilities Corporation (NYSE:CPK - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $128.73 and traded as high as $131.01. Chesapeake Utilities shares last traded at $129.82, with a volume of 132,814 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CPK. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Chesapeake Utilities in a research note on Tuesday, October 6th. Wells Fargo & Company set a $136.00 target price on Chesapeake Utilities and gave the company an "equal weight" rating in a report on Wednesday, September 30th. Wall Street Zen downgraded Chesapeake Utilities from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Barclays set a $134.00 price target on Chesapeake Utilities and gave the stock an "equal weight" rating in a report on Monday. Finally, Huntington assumed coverage on Chesapeake Utilities in a research report on Monday, September 14th. They issued an "outperform" rating and a $150.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.50.

Chesapeake Utilities Price Performance

The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 20.70 and a beta of 0.65. The company's 50 day simple moving average is $131.11 and its 200-day simple moving average is $128.73. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.05 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.02). The firm had revenue of $201.90 million for the quarter, compared to analysts' expectations of $198.91 million. Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. On average, equities research analysts predict that Chesapeake Utilities Corporation will post 6.40 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 14th were paid a $0.7350 dividend. This represents a $2.94 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, September 14th. Chesapeake Utilities's payout ratio is presently 46.89%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Chesapeake Utilities by 24.3% during the first quarter. EverSource Wealth Advisors LLC now owns 404 shares of the utilities provider's stock worth $51,000 after purchasing an additional 79 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Chesapeake Utilities by 38.8% in the second quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 85 shares during the period. Arizona State Retirement System grew its position in shares of Chesapeake Utilities by 1.8% in the second quarter. Arizona State Retirement System now owns 6,619 shares of the utilities provider's stock valued at $811,000 after purchasing an additional 114 shares during the period. Corient Private Wealth LP grew its position in shares of Chesapeake Utilities by 1.7% in the second quarter. Corient Private Wealth LP now owns 6,828 shares of the utilities provider's stock valued at $836,000 after purchasing an additional 114 shares during the period. Finally, Byrne Asset Management LLC increased its stake in Chesapeake Utilities by 11.4% in the second quarter. Byrne Asset Management LLC now owns 1,176 shares of the utilities provider's stock valued at $144,000 after purchasing an additional 120 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

About Chesapeake Utilities

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.

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