Chesapeake Utilities (NYSE:CPK) Trading 2.1% Higher – Here’s What Happened

Chesapeake Utilities Co. (NYSE:CPK)’s share price rose 2.1% on Friday . The stock traded as high as $128.44 and last traded at $128.27. Approximately 25,076 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 96,009 shares. The stock had previously closed at $125.62.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

Chesapeake Utilities Trading Up 2.1 %

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 company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 26.01 and a beta of 0.60. The firm has a fifty day moving average price of $124.84 and a 200-day moving average price of $123.76.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.04). The firm had revenue of $215.00 million for the quarter, compared to analyst estimates of $237.84 million. Chesapeake Utilities had a return on equity of 9.08% and a net margin of 14.16%. During the same quarter in the previous year, the company earned $1.64 earnings per share. As a group, equities analysts anticipate that Chesapeake Utilities Co. will post 5.39 EPS for the current year.

Chesapeake Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Chesapeake Utilities’s payout ratio is presently 48.58%.

Hedge Funds Weigh In On Chesapeake Utilities

Several hedge funds and other institutional investors have recently modified their holdings of CPK. Jane Street Group LLC boosted its stake in Chesapeake Utilities by 11.6% in the third quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock valued at $5,095,000 after buying an additional 4,262 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Chesapeake Utilities by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 5,659 shares of the utilities provider’s stock valued at $702,000 after purchasing an additional 130 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Chesapeake Utilities by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 287,993 shares of the utilities provider’s stock valued at $35,760,000 after purchasing an additional 14,430 shares during the last quarter. Arizona State Retirement System increased its position in Chesapeake Utilities by 1.6% during the 4th quarter. Arizona State Retirement System now owns 6,516 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 103 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Chesapeake Utilities by 4.0% during the 4th quarter. Van ECK Associates Corp now owns 6,323 shares of the utilities provider’s stock worth $767,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 83.11% of the company’s stock.

About Chesapeake Utilities

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.