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

Chesapeake Utilities Co. (NYSE:CPK)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $128.99 and last traded at $128.47, with a volume of 9971 shares. The stock had previously closed at $126.97.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPK. Barclays increased their price target on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. StockNews.com raised Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

Chesapeake Utilities Stock Up 1.8 %

The business has a fifty day moving average of $121.60 and a two-hundred day moving average of $115.44. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 25.88 and a beta of 0.61. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.98%. Chesapeake Utilities’s payout ratio is currently 51.93%.

Institutional Trading of Chesapeake Utilities

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Chesapeake Utilities by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock worth $64,157,000 after buying an additional 8,358 shares during the last quarter. Barclays PLC lifted its stake in shares of Chesapeake Utilities by 342.4% in the 3rd quarter. Barclays PLC now owns 37,048 shares of the utilities provider’s stock valued at $4,600,000 after purchasing an additional 28,673 shares in the last quarter. XTX Topco Ltd acquired a new stake in Chesapeake Utilities in the 3rd quarter valued at $390,000. Jane Street Group LLC raised its holdings in shares of Chesapeake Utilities by 11.6% during the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock valued at $5,095,000 after buying an additional 4,262 shares during the period. Finally, State Street Corp boosted its stake in shares of Chesapeake Utilities by 0.9% during the 3rd quarter. State Street Corp now owns 1,222,149 shares of the utilities provider’s stock valued at $152,513,000 after buying an additional 11,068 shares during the last quarter. 83.11% of the stock is currently owned by institutional investors and hedge funds.

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.