Chesapeake Utilities (NYSE:CPK) Hits New 12-Month High – What’s Next?

Chesapeake Utilities Corporation (NYSE:CPK) reached a new 52-week high on Wednesday. The company traded as high as $141.11 and last traded at $141.2150, with a volume of 27,431 shares trading hands. The stock had previously closed at $138.05.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CPK. Wells Fargo & Company set a $136.00 price objective on Chesapeake Utilities and gave the stock an “equal weight” rating in a report on Wednesday, September 30th. Wall Street Zen cut Chesapeake Utilities from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings upgraded Chesapeake Utilities from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. Huntington began coverage on Chesapeake Utilities in a research note on Monday, September 14th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, Barclays set a $134.00 target price on Chesapeake Utilities and gave the stock an “equal weight” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $142.50.

Chesapeake Utilities Stock Up 2.2%

The stock has a 50 day moving average price of $131.17 and a 200-day moving average price of $129.35. The stock has a market capitalization of $3.40 billion, a P/E ratio of 22.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.32 and a quick ratio of 0.28.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The company had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $198.91 million. During the same quarter in the prior year, the firm posted $1.04 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. As a group, research analysts expect that Chesapeake Utilities Corporation will post 6.40 EPS for the current fiscal year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 14th were paid a $0.7350 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, September 14th. Chesapeake Utilities’s payout ratio is 46.89%.

Institutional Trading of Chesapeake Utilities

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of Chesapeake Utilities by 4.4% in the second quarter. Wellington Management Group LLP now owns 939,774 shares of the utilities provider’s stock worth $115,104,000 after purchasing an additional 39,754 shares during the last quarter. Bank of America Corp DE bought a new stake in Chesapeake Utilities during the 2nd quarter valued at $6,179,000. Renaissance Technologies LLC bought a new stake in Chesapeake Utilities during the 1st quarter valued at $1,219,000. Deutsche Bank AG bought a new stake in Chesapeake Utilities during the 2nd quarter valued at $4,206,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Chesapeake Utilities during the 2nd quarter valued at $6,069,000. Institutional investors own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation is an energy delivery company that provides natural gas, propane, electricity and related services to residential, commercial, industrial and institutional customers. Its operations include regulated utility businesses as well as unregulated energy and infrastructure activities.

The company distributes natural gas and electricity, transports natural gas through pipeline systems, and supplies propane and other fuels. It also develops and operates energy infrastructure and provides renewable natural gas and other energy solutions through its portfolio of operating subsidiaries.

Founded in 1859, Chesapeake Utilities serves customers primarily in Delaware, Maryland, Pennsylvania, Virginia, Florida and Ohio.