Chesapeake Utilities (NYSE:CPK) Sees Strong Trading Volume – Time to Buy?

Shares of Chesapeake Utilities Corporation (NYSE:CPK) saw unusually-high trading volume on Friday . Approximately 352,884 shares were traded during mid-day trading, an increase of 137% from the previous session’s volume of 149,032 shares.The stock last traded at $128.3950 and had previously closed at $127.91.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays set a $142.00 target price on Chesapeake Utilities and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Wells Fargo & Company started coverage on Chesapeake Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $132.00 price objective for the company. Wall Street Zen upgraded shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings lowered shares of Chesapeake Utilities from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $137.00.

Chesapeake Utilities Price Performance

The company has a 50 day moving average price of $124.17 and a 200 day moving average price of $126.90. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 20.58 and a beta of 0.69. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 0.80.

Chesapeake Utilities (NYSE:CPK) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.09. Chesapeake Utilities had a return on equity of 9.53% and a net margin of 15.11%.The firm had revenue of $353.10 million during the quarter, compared to analysts’ expectations of $339.86 million. During the same period in the previous year, the business posted $2.22 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.00 EPS. As a group, equities research analysts forecast that Chesapeake Utilities Corporation will post 6.51 earnings per share for the current year.

Chesapeake Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were issued a $0.735 dividend. This is an increase from Chesapeake Utilities’s previous quarterly dividend of $0.69. This represents a $2.94 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, June 15th. Chesapeake Utilities’s dividend payout ratio (DPR) is currently 47.12%.

Insiders Place Their Bets

In other news, CEO Jeffry M. Householder sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $126.12, for a total transaction of $1,261,200.00. Following the completion of the transaction, the chief executive officer directly owned 63,001 shares in the company, valued at approximately $7,945,686.12. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin J. Webber sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.37, for a total value of $254,740.00. Following the completion of the sale, the senior vice president directly owned 12,652 shares of the company’s stock, valued at approximately $1,611,485.24. This trade represents a 13.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Chesapeake Utilities by 94.7% during the second quarter. EverSource Wealth Advisors LLC now owns 222 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Chesapeake Utilities by 292.9% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 164 shares during the period. Entrust Financial LLC acquired a new stake in shares of Chesapeake Utilities in the 4th quarter valued at about $37,000. Versant Capital Management Inc raised its stake in shares of Chesapeake Utilities by 38.8% in the 2nd quarter. Versant Capital Management Inc now owns 304 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 85 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Chesapeake Utilities by 66.1% in the third quarter. CIBC Private Wealth Group LLC now owns 274 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy services holding company headquartered in Dover, Delaware. Through its operating subsidiaries, the company engages in natural gas distribution, transmission and storage; propane distribution; wholesale propane supply; and contract compression and natural gas liquids processing. Its core mission is to provide safe, reliable and cost-effective energy solutions to residential, commercial and industrial customers across multiple U.S.