Chesapeake Utilities Corporation (CPK) Hits New 1-Year High at $83.50

Chesapeake Utilities Corporation (NYSE:CPK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $83.50 and last traded at $81.80, with a volume of 30100 shares changing hands. The stock had previously closed at $81.55.

Several research firms have recently issued reports on CPK. Sidoti began coverage on shares of Chesapeake Utilities Corporation in a report on Wednesday, October 18th. They set a “neutral” rating and a $85.00 target price for the company. Zacks Investment Research upgraded shares of Chesapeake Utilities Corporation from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Tuesday, November 14th. Finally, BidaskClub upgraded shares of Chesapeake Utilities Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $76.40.

The company has a market cap of $1,340.00, a price-to-earnings ratio of 30.32, a PEG ratio of 4.76 and a beta of 0.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.44.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.30 annualized dividend and a dividend yield of 1.59%. Chesapeake Utilities Corporation’s payout ratio is 48.51%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in Chesapeake Utilities Corporation by 11.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 148 shares during the last quarter. Pitcairn Co. purchased a new position in Chesapeake Utilities Corporation in the 3rd quarter worth approximately $201,000. Chevy Chase Trust Holdings Inc. purchased a new position in Chesapeake Utilities Corporation in the 3rd quarter worth approximately $207,000. Victory Capital Management Inc. raised its holdings in Chesapeake Utilities Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,663 shares of the utilities provider’s stock worth $200,000 after acquiring an additional 398 shares during the last quarter. Finally, Symons Capital Management Inc. purchased a new position in Chesapeake Utilities Corporation in the 3rd quarter worth approximately $223,000. Institutional investors own 60.48% of the company’s stock.

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About Chesapeake Utilities Corporation

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

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