A number of other equities analysts have also commented on the stock. ValuEngine lowered shares of Chesapeake Utilities from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Maxim Group set a $110.00 target price on shares of Chesapeake Utilities and gave the stock a buy rating in a research report on Friday, October 11th. Sidoti started coverage on shares of Chesapeake Utilities in a research report on Thursday, October 24th. They set a buy rating and a $108.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Chesapeake Utilities from a buy rating to a hold rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Chesapeake Utilities currently has an average rating of Hold and an average price target of $100.65.
NYSE CPK traded down $1.15 during trading on Friday, hitting $88.02. The stock had a trading volume of 79,325 shares, compared to its average volume of 59,471. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.22 and a current ratio of 0.24. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 3.46 and a beta of 0.15. Chesapeake Utilities has a one year low of $77.20 and a one year high of $97.00. The stock has a 50 day simple moving average of $93.74 and a 200 day simple moving average of $93.39.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, December 13th. Chesapeake Utilities’s dividend payout ratio (DPR) is presently 48.94%.
In other news, insider John R. Schimkaitis sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $94.41, for a total transaction of $236,025.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 2,858 shares of company stock worth $269,817. Corporate insiders own 4.18% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Krane Funds Advisors LLC purchased a new position in Chesapeake Utilities during the second quarter valued at approximately $59,000. Tower Research Capital LLC TRC purchased a new position in Chesapeake Utilities during the third quarter valued at approximately $85,000. River & Mercantile Asset Management LLP purchased a new position in Chesapeake Utilities during the second quarter valued at approximately $86,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Chesapeake Utilities by 29.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 955 shares of the utilities provider’s stock valued at $91,000 after buying an additional 219 shares during the period. Finally, US Bancorp DE increased its holdings in Chesapeake Utilities by 15.5% during the second quarter. US Bancorp DE now owns 1,800 shares of the utilities provider’s stock valued at $171,000 after buying an additional 241 shares during the period. 65.55% of the stock is currently owned by institutional investors.
About Chesapeake Utilities
Chesapeake Utilities Corporation, a diversified energy company, engages in regulated and unregulated energy businesses. The company operates in two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment engages in the distribution of natural gas in Delaware, Maryland, and Florida; distribution of electricity in Florida; and transmission of natural gas on the Delmarva Peninsula and in Florida.
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