Chesapeake Utilities (NYSE:CPK) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Chesapeake Utilities Corporation (NYSE:CPK) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $128.57 and traded as high as $130.43. Chesapeake Utilities shares last traded at $129.93, with a volume of 134,091 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company set a $136.00 target price on shares of Chesapeake Utilities and gave the company an “equal weight” rating in a research note on Wednesday, September 30th. Mizuho set a $150.00 price target on shares of Chesapeake Utilities and gave the stock an “outperform” rating in a research note on Friday, September 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Chesapeake Utilities in a research note on Tuesday, October 6th. Huntington initiated coverage on shares of Chesapeake Utilities in a research report on Monday, September 14th. They issued an “outperform” rating and a $150.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Chesapeake Utilities Stock Performance

The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 0.79. The business has a 50 day simple moving average of $131.43 and a two-hundred day simple moving average of $128.61. The firm has a market cap of $3.15 billion, a PE ratio of 20.85 and a beta of 0.65.

Chesapeake Utilities (NYSE:CPK) last released its earnings results on Thursday, August 6th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). The business had revenue of $201.90 million for the quarter, compared to the consensus estimate of $198.91 million. Chesapeake Utilities had a return on equity of 9.34% and a net margin of 15.12%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. Chesapeake Utilities has set its FY 2026 guidance at 7.750-8.000 EPS. As a group, equities research analysts forecast that Chesapeake Utilities Corporation will post 6.41 earnings per share for the current fiscal year.

Chesapeake Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 14th were given a $0.7350 dividend. This represents a $2.94 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, September 14th. Chesapeake Utilities’s payout ratio is 46.89%.

Hedge Funds Weigh In On Chesapeake Utilities

A number of hedge funds have recently added to or reduced their stakes in CPK. Renaissance Technologies LLC bought a new stake in shares of Chesapeake Utilities in the first quarter valued at about $1,219,000. Wellington Management Group LLP increased its holdings in shares of Chesapeake Utilities by 4.4% in the 2nd quarter. Wellington Management Group LLP now owns 939,774 shares of the utilities provider’s stock valued at $115,104,000 after acquiring an additional 39,754 shares during the period. Bank of America Corp DE bought a new position in shares of Chesapeake Utilities in the 2nd quarter worth $6,179,000. Deutsche Bank AG bought a new position in shares of Chesapeake Utilities in the 2nd quarter worth $4,206,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Chesapeake Utilities in the 2nd quarter worth $6,069,000. 83.11% of the stock is currently owned by institutional investors.

Chesapeake Utilities Company Profile

Chesapeake Utilities Corporation (NYSE: CPK) is a diversified energy delivery company headquartered in Dover, Delaware. Through its operating divisions and subsidiaries, the company provides natural gas distribution, transmission and storage, propane distribution, electric distribution, and other energy-related services to residential, commercial, industrial and institutional customers.

The company operates regulated natural gas utilities in Delaware, Maryland and Florida, as well as natural gas transmission and pipeline businesses serving portions of the Mid-Atlantic and Southeast.