Chesapeake Utilities (NYSE:CPK) Stock Price Up 2.1% – What’s Next?

Chesapeake Utilities Co. (NYSE:CPK) shares rose 2.1% on Friday . The stock traded as high as $128.44 and last traded at $128.27. Approximately 25,076 shares were traded during trading, a decline of 74% from the average daily volume of 96,009 shares. The stock had previously closed at $125.62.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

Chesapeake Utilities Trading Up 2.1 %

The stock has a 50-day simple moving average of $124.75 and a two-hundred day simple moving average of $123.67. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.32 and a current ratio of 0.38. The firm has a market cap of $2.95 billion, a PE ratio of 26.01 and a beta of 0.60.

Chesapeake Utilities (NYSE:CPK) last issued its 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). The company had revenue of $215.00 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $1.64 EPS. As a group, sell-side analysts anticipate that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.58%.

Institutional Trading of Chesapeake Utilities

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