Chesapeake Utilities (CPK) Sets New 12-Month High at $87.55

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Chesapeake Utilities Co. (NYSE:CPK)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $87.55 and last traded at $86.05, with a volume of 1154 shares. The stock had previously closed at $86.90.

Several research firms have weighed in on CPK. ValuEngine upgraded shares of Chesapeake Utilities from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research cut shares of Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Monday, July 16th.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.27 and a current ratio of 0.30. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 4.15 and a beta of -0.01.

Chesapeake Utilities (NYSE:CPK) last posted its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a return on equity of 10.75% and a net margin of 9.68%. The firm had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $140.85 million. sell-side analysts expect that Chesapeake Utilities Co. will post 3.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 13th. Chesapeake Utilities’s payout ratio is 51.21%.

In other Chesapeake Utilities news, insider Stephen C. Thompson sold 988 shares of Chesapeake Utilities stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $77.99, for a total transaction of $77,054.12. Following the completion of the sale, the insider now owns 73,605 shares of the company’s stock, valued at approximately $5,740,453.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen C. Thompson sold 1,772 shares of Chesapeake Utilities stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $77.21, for a total transaction of $136,816.12. Following the sale, the insider now directly owns 73,605 shares of the company’s stock, valued at approximately $5,683,042.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,811 shares of company stock worth $1,153,932. Corporate insiders own 4.20% of the company’s stock.

Large investors have recently modified their holdings of the business. AdvisorNet Financial Inc boosted its stake in shares of Chesapeake Utilities by 2,424.6% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,439 shares of the utilities provider’s stock valued at $115,000 after buying an additional 1,382 shares during the period. Archford Capital Strategies LLC acquired a new stake in shares of Chesapeake Utilities during the 1st quarter valued at $156,000. United Services Automobile Association acquired a new stake in shares of Chesapeake Utilities during the 2nd quarter valued at $209,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Chesapeake Utilities in the 1st quarter valued at $196,000. Finally, Creative Planning acquired a new stake in shares of Chesapeake Utilities in the 2nd quarter valued at $227,000. 63.68% of the stock is owned by institutional investors.

About Chesapeake Utilities (NYSE:CPK)

Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.

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