Chesapeake Utilities (NYSE:CPK) Reaches New 1-Year High on Analyst Upgrade

Chesapeake Utilities Co. (NYSE:CPK - Get Free Report) hit a new 52-week high during trading on Monday after Guggenheim raised their price target on the stock from $118.00 to $129.00. Guggenheim currently has a neutral rating on the stock. Chesapeake Utilities traded as high as $133.00 and last traded at $133.00, with a volume of 5179 shares. The stock had previously closed at $132.32.

A number of other brokerages also recently issued reports on CPK. StockNews.com upgraded Chesapeake Utilities from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Barclays upped their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $123.00.

Institutional Trading of Chesapeake Utilities

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Chesapeake Utilities by 6.8% during the first quarter. Vanguard Group Inc. now owns 1,859,001 shares of the utilities provider's stock valued at $199,471,000 after acquiring an additional 118,878 shares during the period. State Street Corp lifted its holdings in shares of Chesapeake Utilities by 0.9% in the third quarter. State Street Corp now owns 1,222,149 shares of the utilities provider's stock worth $152,513,000 after buying an additional 11,068 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Chesapeake Utilities by 9.5% in the 3rd quarter. Copeland Capital Management LLC now owns 592,471 shares of the utilities provider's stock worth $73,567,000 after purchasing an additional 51,164 shares in the last quarter. Geode Capital Management LLC increased its stake in Chesapeake Utilities by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider's stock worth $64,157,000 after acquiring an additional 8,358 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Chesapeake Utilities by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 489,433 shares of the utilities provider's stock valued at $51,979,000 after acquiring an additional 19,100 shares during the last quarter. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Trading Up 0.6 %

The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87. The stock's 50 day moving average is $122.81 and its 200-day moving average is $116.31. The company has a market cap of $3.03 billion, a PE ratio of 27.01 and a beta of 0.61.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.56 dividend on an annualized basis and a yield of 1.92%. Chesapeake Utilities's dividend payout ratio (DPR) is presently 51.93%.

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.