Chesapeake Utilities Co. (NYSE:CPK) declared a quarterly dividend on Wednesday, August 8th, Zacks reports. Investors of record on Friday, September 14th will be paid a dividend of 0.37 per share by the utilities provider on Friday, October 5th. 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 has raised its dividend by an average of 6.2% per year over the last three years and has increased its dividend every year for the last 14 years. Chesapeake Utilities has a dividend payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Chesapeake Utilities to earn $3.71 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 39.9%.
Shares of CPK traded down $0.30 during mid-day trading on Friday, reaching $87.65. The company’s stock had a trading volume of 47,729 shares, compared to its average volume of 36,420. Chesapeake Utilities has a 1-year low of $66.35 and a 1-year high of $88.20. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 4.24 and a beta of -0.01. The company has a quick ratio of 0.27, a current ratio of 0.30 and a debt-to-equity ratio of 0.48.
Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). Chesapeake Utilities had a net margin of 9.68% and a return on equity of 10.75%. The business had revenue of $136.66 million during the quarter, compared to analyst estimates of $140.85 million. analysts expect that Chesapeake Utilities will post 3.45 earnings per share for the current year.
In related news, insider Stephen C. Thompson sold 988 shares of Chesapeake Utilities stock in a transaction that occurred on Thursday, June 21st. The stock was 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 directly owns 73,605 shares of the company’s stock, valued at approximately $5,740,453.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Stephen C. Thompson sold 1,772 shares of Chesapeake Utilities stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $77.21, for a total value of $136,816.12. Following the sale, the insider now directly owns 73,605 shares of the company’s stock, valued at $5,683,042.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,811 shares of company stock valued at $1,153,932. 4.20% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. ValuEngine cut Chesapeake Utilities from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd.
Chesapeake Utilities Company Profile
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.
Recommended Story: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Chesapeake Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Utilities and related companies with MarketBeat.com's FREE daily email newsletter.