Chesapeake Utilities (NYSE:CPK) Sets New 52-Week High – Time to Buy?

Chesapeake Utilities Co. (NYSE:CPK)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $134.86 and last traded at $133.45, with a volume of 55777 shares traded. The stock had previously closed at $133.40.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a “strong-buy” rating in a research note on Thursday. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chesapeake Utilities currently has an average rating of “Hold” and an average target price of $122.67.

Chesapeake Utilities Stock Performance

The company’s 50-day simple moving average is $125.63 and its 200 day simple moving average is $124.05. The stock has a market cap of $3.00 billion, a P/E ratio of 26.47 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.

Chesapeake Utilities (NYSE:CPK) last issued its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The business had revenue of $215.00 million for the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter last year, the business posted $1.64 earnings per share. As a group, sell-side analysts expect that Chesapeake Utilities Co. will post 5.39 EPS for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a dividend of $0.64 per share. The ex-dividend date is Friday, March 14th. This represents a $2.56 dividend on an annualized basis and a yield of 1.96%. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its holdings in shares of Chesapeake Utilities by 587.1% in the 4th quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 182 shares during the period. Versant Capital Management Inc lifted its position in shares of Chesapeake Utilities by 2,018.2% during the 4th quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider’s stock valued at $28,000 after buying an additional 222 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Chesapeake Utilities during the 4th quarter valued at $50,000. Sterling Capital Management LLC grew its stake in shares of Chesapeake Utilities by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 697 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 620 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Chesapeake Utilities by 159.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 876 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 539 shares during the last quarter. 83.11% of the stock is currently owned by hedge funds and other institutional investors.

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.