Chesapeake Utilities (NYSE:CPK - Free Report) had its price target raised by Barclays from $118.00 to $124.00 in a report published on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider's stock.
Chesapeake Utilities Price Performance
Shares of CPK traded down $4.07 during mid-day trading on Monday, hitting $118.52. The company's stock had a trading volume of 102,493 shares, compared to its average volume of 117,182. Chesapeake Utilities has a fifty-two week low of $83.79 and a fifty-two week high of $125.34. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 24.90 and a beta of 0.61. The firm has a 50-day moving average price of $118.79 and a 200 day moving average price of $111.99. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.38 and a quick ratio of 0.32.
Chesapeake Utilities (NYSE:CPK - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). The business had revenue of $166.30 million during the quarter, compared to analyst estimates of $194.70 million. Chesapeake Utilities had a return on equity of 9.51% and a net margin of 13.61%. The company's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. On average, research analysts predict that Chesapeake Utilities will post 5.39 EPS for the current fiscal year.
Chesapeake Utilities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.56 annualized dividend and a yield of 2.16%. Chesapeake Utilities's payout ratio is presently 53.78%.
Insider Buying and Selling at Chesapeake Utilities
In other news, Director Paul L. Maddock, Jr. sold 9,634 shares of Chesapeake Utilities stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $113.56, for a total value of $1,094,037.04. Following the transaction, the director now directly owns 8,363 shares of the company's stock, valued at $949,702.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.68% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Chesapeake Utilities by 23.8% during the 4th quarter. Vanguard Group Inc. now owns 1,740,123 shares of the utilities provider's stock worth $183,809,000 after acquiring an additional 334,088 shares during the period. Schroder Investment Management Group grew its position in Chesapeake Utilities by 136.1% during the fourth quarter. Schroder Investment Management Group now owns 234,996 shares of the utilities provider's stock valued at $24,823,000 after purchasing an additional 135,462 shares in the last quarter. Boston Trust Walden Corp increased its stake in Chesapeake Utilities by 76.1% in the 2nd quarter. Boston Trust Walden Corp now owns 274,405 shares of the utilities provider's stock valued at $29,142,000 after buying an additional 118,561 shares during the period. Janus Henderson Group PLC lifted its position in Chesapeake Utilities by 61.5% in the 1st quarter. Janus Henderson Group PLC now owns 275,204 shares of the utilities provider's stock worth $29,529,000 after buying an additional 104,850 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Chesapeake Utilities by 28.4% in the 1st quarter. Jennison Associates LLC now owns 428,834 shares of the utilities provider's stock worth $46,014,000 after buying an additional 94,980 shares in the last quarter. Hedge funds and other institutional investors own 83.11% of the company's stock.
About Chesapeake Utilities
(
Get Free Report)
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.
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