Chesapeake Utilities (NYSE:CPK) Reaches New 52-Week High – Should You Buy?

Chesapeake Utilities Co. (NYSE:CPK) hit a new 52-week high during trading on Monday . The company traded as high as $134.93 and last traded at $134.93, with a volume of 89966 shares trading hands. The stock had previously closed at $131.11.

Wall Street Analysts Forecast Growth

CPK has been the subject of several recent research reports. LADENBURG THALM/SH SH raised Chesapeake Utilities to a “strong-buy” rating in a report on Thursday, April 3rd. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $122.67.

Chesapeake Utilities Trading Up 2.6 %

The firm’s fifty day moving average price is $126.20 and its two-hundred day moving average price is $124.26. The stock has a market cap of $3.09 billion, a P/E ratio of 27.28 and a beta of 0.66. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.38 and a quick ratio of 0.32.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results 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). Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The firm had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. During the same period last year, the firm earned $1.64 EPS. As a group, equities research analysts forecast that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Friday, March 14th. Chesapeake Utilities’s payout ratio is 48.58%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CPK. Federated Hermes Inc. boosted its holdings in shares of Chesapeake Utilities by 587.1% during the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock valued at $26,000 after buying an additional 182 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Chesapeake Utilities by 2,018.2% during the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Chesapeake Utilities in the 1st quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in Chesapeake Utilities by 50.7% during the first quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider’s stock valued at $41,000 after buying an additional 106 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Chesapeake Utilities in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 83.11% of the company’s stock.

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.