Chesapeake Utilities (NYSE:CPK) Reaches New 12-Month High on Analyst Upgrade

Chesapeake Utilities Co. (NYSE:CPK - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after LADENBURG THALM/SH SH upgraded the stock to a strong-buy rating. The company traded as high as $136.73 and last traded at $136.25, with a volume of 36190 shares. The stock had previously closed at $133.69.

A number of other analysts have also recently commented on the company. StockNews.com cut Chesapeake Utilities from a "hold" rating to a "sell" rating in a research note on Tuesday. Barclays increased their target price on shares of Chesapeake Utilities from $120.00 to $125.00 and gave the stock an "equal weight" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Chesapeake Utilities has an average rating of "Hold" and a consensus price target of $123.00.

Hedge Funds Weigh In On Chesapeake Utilities

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Chesapeake Utilities by 5.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider's stock valued at $35,760,000 after acquiring an additional 14,430 shares during the period. Arizona State Retirement System boosted its stake in shares of Chesapeake Utilities by 1.6% in the fourth quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider's stock valued at $791,000 after buying an additional 103 shares during the period. Van ECK Associates Corp lifted its position in shares of Chesapeake Utilities by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider's stock valued at $767,000 after acquiring an additional 246 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Chesapeake Utilities during the 4th quarter worth $5,110,000. Finally, Natixis Advisors LLC bought a new stake in shares of Chesapeake Utilities during the 4th quarter worth approximately $1,216,000. Institutional investors own 83.11% of the company's stock.

Chesapeake Utilities Stock Performance

The company has a 50 day moving average price of $128.22 and a 200-day moving average price of $124.99. The company has a market cap of $3.02 billion, a P/E ratio of 26.63 and a beta of 0.66. 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 (NYSE:CPK - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.67 by ($0.04). The company had revenue of $215.00 million during the quarter, compared to the consensus estimate of $237.84 million. Chesapeake Utilities had a net margin of 14.16% and a return on equity of 9.08%. During the same quarter last year, the firm posted $1.64 EPS. On average, equities analysts expect that Chesapeake Utilities Co. will post 5.39 earnings per share for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were issued a $0.64 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.56 annualized dividend and a yield of 1.95%. Chesapeake Utilities's payout ratio is currently 48.58%.

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.