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

Shares of Chesapeake Utilities Co. (NYSE:CPK - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $134.93 and last traded at $134.93, with a volume of 89966 shares trading hands. The stock had previously closed at $131.11.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CPK shares. StockNews.com upgraded Chesapeake Utilities from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. LADENBURG THALM/SH SH upgraded Chesapeake Utilities to a "strong-buy" rating in a research report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $122.67.

Chesapeake Utilities Stock Performance

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 capitalization of $3.11 billion, a PE ratio of 27.42 and a beta of 0.66. The firm's 50 day moving average price is $127.04 and its 200-day moving average price is $124.55.

Chesapeake Utilities (NYSE:CPK - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.67 by ($0.04). Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. The business had revenue of $215.00 million during the quarter, compared to analyst estimates of $237.84 million. During the same period in the previous year, the company posted $1.64 EPS. On average, research analysts expect that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Friday, March 14th. Chesapeake Utilities's payout ratio is presently 48.58%.

Hedge Funds Weigh In On Chesapeake Utilities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in shares of Chesapeake Utilities by 587.1% during the fourth quarter. Federated Hermes Inc. now owns 213 shares of the utilities provider's stock worth $26,000 after purchasing an additional 182 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Chesapeake Utilities by 2,018.2% during the fourth quarter. Versant Capital Management Inc now owns 233 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 222 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Chesapeake Utilities in the first quarter valued at approximately $30,000. Byrne Asset Management LLC increased its position in shares of Chesapeake Utilities by 114.3% during the first quarter. Byrne Asset Management LLC now owns 270 shares of the utilities provider's stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Chesapeake Utilities by 50.7% in the 1st quarter. Farther Finance Advisors LLC now owns 315 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 106 shares during the last quarter. 83.11% of the stock is owned by hedge funds and other 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.