Chesapeake Utilities (NYSE:CPK) Hits New 52-Week High – Still a Buy?

Chesapeake Utilities Co. (NYSE:CPK)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $128.54 and last traded at $128.35, with a volume of 15019 shares trading hands. The stock had previously closed at $126.44.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays lifted their target price on Chesapeake Utilities from $118.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

Chesapeake Utilities Price Performance

The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 25.65 and a beta of 0.61. The company’s 50 day moving average is $121.32 and its 200 day moving average is $115.10. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 0.87.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.64 per share. The ex-dividend date is Monday, December 16th. This represents a $2.56 annualized dividend and a dividend yield of 2.02%. Chesapeake Utilities’s dividend payout ratio is presently 51.93%.

Institutional Trading of Chesapeake Utilities

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Chesapeake Utilities by 180.1% during the second quarter. GAMMA Investing LLC now owns 633 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 407 shares during the period. Assetmark Inc. increased its stake in Chesapeake Utilities by 19.2% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 102 shares during the last quarter. Fifth Third Bancorp lifted its stake in Chesapeake Utilities by 17.7% during the second quarter. Fifth Third Bancorp now owns 765 shares of the utilities provider’s stock worth $81,000 after purchasing an additional 115 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Chesapeake Utilities in the 3rd quarter valued at $99,000. Finally, Spirit of America Management Corp NY raised its holdings in shares of Chesapeake Utilities by 81.8% during the 2nd quarter. Spirit of America Management Corp NY now owns 1,000 shares of the utilities provider’s stock worth $106,000 after buying an additional 450 shares in the last quarter. 83.11% of the stock is currently owned by 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.