Chesapeake Utilities (NYSE:CPK) Hits New 12-Month High – Here’s What Happened

Shares of Chesapeake Utilities Co. (NYSE:CPK) hit a new 52-week high on Tuesday . The stock traded as high as $128.54 and last traded at $128.35, with a volume of 15019 shares traded. The stock had previously closed at $126.44.

Analyst Ratings Changes

Several research analysts have recently commented on CPK shares. Barclays boosted their price target on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. StockNews.com upgraded Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday.

Chesapeake Utilities Trading Down 0.3 %

The business has a 50-day moving average of $121.02 and a 200-day moving average of $114.87. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.32 and a current ratio of 0.38. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 25.67 and a beta of 0.61.

Chesapeake Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, December 16th. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 51.93%.

Institutional Investors Weigh In On Chesapeake Utilities

A number of hedge funds have recently made changes to their positions in CPK. GAMMA Investing LLC grew its stake in Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after buying an additional 407 shares during the last quarter. Assetmark Inc. lifted its position in Chesapeake Utilities by 19.2% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $79,000 after buying an additional 102 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Chesapeake Utilities by 17.7% during the 2nd quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 115 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Chesapeake Utilities during the 3rd quarter worth about $99,000. Finally, Spirit of America Management Corp NY grew its stake in Chesapeake Utilities by 81.8% in the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock valued at $106,000 after buying an additional 450 shares during the last quarter. Institutional investors own 83.11% of the company’s stock.

About Chesapeake Utilities

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.