Chesapeake Utilities (NYSE:CPK) Shares Cross Above 200-Day Moving Average – Here’s Why

Chesapeake Utilities Corporation (NYSE:CPK)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $130.05 and traded as high as $132.91. Chesapeake Utilities shares last traded at $132.07, with a volume of 136,100 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPK. Barclays reaffirmed a “reduce” rating and set a $140.00 price objective (down from $141.00) on shares of Chesapeake Utilities in a report on Tuesday, February 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Chesapeake Utilities in a research note on Monday, December 29th. Finally, Wall Street Zen lowered Chesapeake Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $140.00.

Chesapeake Utilities Trading Down 0.3%

The firm’s 50-day simple moving average is $129.36 and its 200-day simple moving average is $130.05. The firm has a market capitalization of $3.08 billion, a PE ratio of 21.51 and a beta of 0.78. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 0.83.

Chesapeake Utilities (NYSE:CPK) last released its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $1.94 EPS for the quarter, missing the consensus estimate of $2.16 by ($0.22). Chesapeake Utilities had a return on equity of 9.31% and a net margin of 15.09%.The company had revenue of $258.90 million during the quarter, compared to analysts’ expectations of $208.59 million. During the same quarter in the prior year, the firm posted $1.63 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. Chesapeake Utilities has set its FY 2028 guidance at 7.750-8.000 EPS. Equities analysts expect that Chesapeake Utilities Corporation will post 5.39 earnings per share for the current year.

Chesapeake Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 6th. Shareholders of record on Monday, March 16th will be paid a $0.685 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 16th. Chesapeake Utilities’s payout ratio is 45.82%.

Insiders Place Their Bets

In other news, CEO Jeffry M. Householder sold 1,908 shares of the stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $125.83, for a total transaction of $240,083.64. Following the completion of the sale, the chief executive officer owned 51,916 shares of the company’s stock, valued at approximately $6,532,590.28. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 17,500 shares of company stock valued at $2,218,185 in the last ninety days. Insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Chesapeake Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPK. EverSource Wealth Advisors LLC grew its holdings in Chesapeake Utilities by 31.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 325 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 78 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Chesapeake Utilities by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,416 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 89 shares during the period. Wealthspire Advisors LLC raised its stake in shares of Chesapeake Utilities by 0.3% during the fourth quarter. Wealthspire Advisors LLC now owns 29,488 shares of the utilities provider’s stock valued at $3,679,000 after acquiring an additional 93 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Chesapeake Utilities by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 1,646 shares of the utilities provider’s stock valued at $205,000 after acquiring an additional 95 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Chesapeake Utilities by 4.5% during the third quarter. TD Waterhouse Canada Inc. now owns 2,231 shares of the utilities provider’s stock worth $301,000 after purchasing an additional 96 shares during the period. 83.11% of the stock is currently owned by institutional investors.

About Chesapeake Utilities

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.